ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
SoftBank

SoftBank gains near $13bn as Sprint's stock soars

Approval of T-Mobile merger offers big win following WeWork fiasco

SoftBank Group Chairman and CEO Masayoshi Son speaks in Tokyo. The company owns a 84% stake in Sprint.   © Reuters

NEW YORK -- A U.S. federal judge on Tuesday ruled in favor of the $26 billion merger between wireless carriers T-Mobile and SoftBank Group-owned Sprint, giving the Japanese conglomerate a much-needed boost after a series of investment flops.

The court decision, which came about six months after the acquisition was approved by the Department of Justice and the Federal Communications Commission, rejected a collective antitrust lawsuit by 13 states including New York and California, as well as the District of Columbia, which demanded an injunction on the transaction.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more