(MENAFN- Qatar News Agency) Japan's Softbank Corp. and US Sprint Nextel Corp.
have basically reached an accord under which Japan's third-largest mobile phone carrier will pay $20 billion, about 1.57 trillion yen, to acquire a more than two-thirds stake in the third-largest US cellular phone company, sources close to the matter said Monday.
The two companies are expected to formally reach a decision and make an announcement as early as Monday on the deal, which would create one of the leading communications groups in the world with a total of 90 million mobile phone subscriptions, according to Japan's (Kyodo) News Agency.
The move came as mobile companies are actively making investments to boost infrastructure for high-speed data communication using the LTE network service.
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