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Scooped by Philippe J DEWOST onto cross pond high tech |
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A $20 billion deal....expected to be announced Monday morning and while certain details are still being worked out, the boards of both companies have signed off on a transaction under which Softbank will buy $8 billion worth of shares directly from Sprint [S 5.73 -0.03 (-0.52%) ] and tender for another $12 billion worth of the shares from existing holders.
The price of the tender offer is $7.30 a share, a large premium to Sprint's current price. Given the deal's structure, it will not require a shareholder vote. Delete the scoop?
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The UK is almost ready to flip the switch on its first LTE network, but it's determined to be at the forefront of the next-generation, setting up a "5G Innovation Centre" at the University of Surrey. The government announced it's putting up £11.6 million (around $18.6 million) in funding, but another £24 million (around $38.5 million) will be coming from an industry group comprising the likes of Huawei, Samsung, Telefonica, Rohde & Schwarz, Fujitsu and others. The money will allow research to go beyond concept and theory, with the aim that all partners work together to develop and standardize 5G technology, which the university has been looking into for a number of years already. They will focus on energy and spectrum efficiency as well as speed, and although it's early days, 10Gbps has been banded around as a per-tower target, translating to roughly 200Mbps for each connection...
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