It's official. Sprint Nextel is now simply Sprint Corporation, as SoftBank completes its high-profile buyout of the wireless provider. Japan’s third-largest carrier now owns a controlling stake in the United States' third-largest carrier. Fitting, isn't it?
The deal, which has been in negotiations since last fall, is worth some $21.6 billion. $5 billion of it is being used as a cash infusion to take on future projects, and the other $16.6 billion is going to Sprint shareholders. And Nextel? It's gone for good...