- When it comes to Sprint (S -2.8%), SoftBank (OTCPK:SFTBY -0.9%) has been putting its money where Chairman Masayoshi Son's mouth is -- shoring up support with daily stock purchases over the past three weeks.
- Since Aug. 10, Sprint shares are up 50% -- more than $7B added to market value, as SoftBank has taken its stake to 82% from 80%. The company has said it would keep buying, but wouldn't take more than an 85% stake, in the wake of Son's oral recommitment to making Sprint a success story.
- Sprint's market cap is up substantially, but cash burn is still an issue: Cash and equivalents fell by $1.95B (compared to a year-ago burn of $799M), meaning a balance of $4.01B fell to $2.06B at the end of the quarter.
- Previously: Son facing down increasing doubts about Sprint's future (Aug. 12 2015)
- Previously: Sprint earnings call: Masa Son committed to turnaround (Aug. 04 2015)
- Previously: Macquarie: SoftBank's Son is staying active fixing Sprint (Jun. 12 2015)