SoftBank to Increase Stake in Sprint

SoftBank announced its intention to increase its stake in Sprint through open market transactions or otherwise, subject to market conditions and other factors.

Masayoshi Son, Chairman & CEO of SBG and Chairman of Sprint, said, “We are entering an era where billions of new connected devices and sensors will come online throughout the United States. Continuing to own a world-class mobile network is central to our vision of ubiquitous connectivity. Sprint is a critical part of our plan to ensure that we can deliver our vision to American consumers and we are very confident in its future.”

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Sprint lands MVNO deal with Altice USA

One day after terminating merger talks with T-Mobile, Sprint announced a mobile virtual network operator (MVNO) agreement with Altice USA, which has more than 4.9 million residential and business customers and an especially strong presence in the New York metro area.

Under the new multi-year strategic agreement Altice USA will utilize Sprint’s network to provide mobile voice and data services to its customers throughout the nation, and Sprint will leverage the Altice USA broadband platform to accelerate the densification of its network.

Sprint said it will provide Altice USA with access to its full MVNO model, allowing Altice USA to connect its network to the Sprint Nationwide network and have control over the Altice USA mobile features, functionality, and customer experience. In exchange, Altice USA will leverage its network to support Sprint’s network densification efforts and establish a differentiated network operating model going forward.   

“We are incredibly excited to work with Altice USA on this innovative win-win solution that benefits both of our companies,” said Sprint President & CEO Marcelo Claure. “As content and connectivity continue to converge, we believe this approach will be a model for future strategic arrangements across multiple industries including cable, tech and others.”

“Sprint is an ideal strategic partner for Altice USA given our shared vision around converged customer experiences,” said Altice USA Chairman & CEO Dexter Goei. “Altice is a convergent leader with more than 26 million mobile customers in countries including France, Portugal, Israel, and the Dominican Republic, and we are excited to bring our global expertise to the U.S. to enhance and strengthen our offerings. Working together we will be able to capitalize on Sprint’s vast mobile network, which fits well alongside Altice USA’s deep WiFi network, and leverage Altice’s global mobile experience to deliver greater value, more benefits and seamless connectivity for our U.S. customers.”

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