Softbank deal is because they control Sprint and want to consolidate mobile market

Posted by | December 6, 2016 18:58 | Filed under: News Behaving Badly Politics

Republish
Reprint

Softbank wants to get in good with the Trump administration, which is why they made this deal.

SoftBank Group Corp. Chief Executive Officer Masayoshi Son told President-elect Donald Trump he would create 50,000 new jobs in the U.S. through a $50 billion investment in startups and new companies.

The money will come from SoftBank’s previously announced $100 billion technology fund, according to a person familiar with the matter. That investment vehicle has a $45 billion commitment from the government of Saudi Arabia and $25 billion from Tokyo-based SoftBank, which operates technology and wireless companies around the world.

The pledge helps SoftBank, which controls U.S. wireless carrier Sprint Corp., get off to a good start with Trump after failing to win the Obama administration’s backing for a plan to consolidate the mobile-phone market.

Some investments from SoftBank’s fund, which was unveiled in October, were probably destined for the U.S. anyway, given the nation’s leadership in the global technology industry. But Son hadn’t previously committed to creating a specific amount of jobs through the investment vehicle.

Click here for reuse options!
Copyright 2016 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

6 responses to Softbank deal is because they control Sprint and want to consolidate mobile market

  1. Buford2k11 December 6th, 2016 at 19:24

    ummm…I smell a rat…I hear rats scuttling about…come January, the fat cats will start the gorging, the rats will devour what the fat cats leave behind…which won’t be much…dark times ahead…lean times for the poor if paul ryan has his way…

  2. wpadon December 6th, 2016 at 22:04

    Sprint has terrible service here in Pittsburgh. Messages often take a day to get through to your phone. Calls dropped, Poor signal. Sorry I have 18 more months to go with them.

    • Larry Schmitt December 7th, 2016 at 05:33

      I would never use Sprint again. Worst network I’ve ever tried.

      • Shirleyrnesbit December 7th, 2016 at 05:59

        Google is paying 97$ per hour! Work for few hours and have longer with friends & family! !mj3958d:
        On tuesday I got a great new Land Rover Range Rover from having earned $8752 this last four weeks.. Its the most-financialy rewarding I’ve had.. It sounds unbelievable but you wont forgive yourself if you don’t check it
        !mj398d:
        ➽➽
        ➽➽;➽➽ http://GoogleFinanciallJobsCash398MediaDigitalGetPay$97Hour… ★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★✫★★::::::!mj398d:….,……

  3. Obewon December 6th, 2016 at 23:43

    “Tokyo-based SoftBank” So how is their Japanese economy? A 2 decade long recession…

    Anti-trust regulators won’t approve no competition that he wants, to leave no billionaire behind.

  4. robert December 7th, 2016 at 01:40

    Sprint was good for 2 things on my phone

    Dropped calls and no service available

    Thank you Sprint but I’ve moved on

Leave a Reply