SoftBank boosts Sprint stake again, to 84.7% ownership

|About: Sprint Corporation (S)|By:, SA News Editor

More purchases of Sprint (NYSE:S) stock by parent SoftBank (OTCPK:SFTBY) have brought its ownership to the brink of its intended limit.

Since Nov. 6, SoftBank has bought more than 70.84M shares for $423.35M; that brings its stake in Sprint to 84.7%.

That's just shy of an 85% limit that would result in Sprint's delisting, and SoftBank has said it doesn't intend to raise its ownership past that threshold.

The conglomerate is also sitting on 54.58M shares of options that it can exercise until July 10.

Sprint fell 1.6% during the market session today to land at $5.60; shares are up 0.4% after hours. SoftBank ADRs gained 4.2% today.

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