OREANDA-NEWS. SoftBank Corp. as announced in the press release titled “Strategic Acquisition of Sprint by SoftBank” dated October 15, 2012, will invest approximately USD 20,1 billion in Sprint Nextel Corporation (“Sprint”).

In the transaction, approximately 55% of Sprint shares will be exchanged for USD 7.30 per share in cash, and the remaining shares will convert into shares of a new publicly traded entity, New Sprint. Following closing, Sprint will become a wholly-owned subsidiary of New Sprint, and the Company will own approximately 70% of the fully-diluted shares of New Sprint.

The Company was notified by the Committee on Foreign Investment in the United States (“CFIUS”) that it has completed its investigation of the proposed transaction between the Company and Sprint and there are no unresolved national security issues relating to the transaction.

The Company anticipates closing the transaction on July 1, 2013, subject to satisfaction of closing conditions, including receipt of approval from the Federal Communications Commission (“FCC”) and the approval of Sprint stockholders.