Masayoshi Son, the CEO of Softbank (SFTBY) is Japanese, but has the heart and soul of a true blue American go-getter. He’s known already as a bit of a maverick, prone to making candid comments, but his recent interview with CNBC’s Jim Cramer has sealed this rep for good.
Why Softbank is buying Sprint
Son told Cramer that one of the reasons that his company bought out Sprint (S) for $20 billion is his Y-chromosome. That’s some influential bit of DNA, then: “I am a man, and every man wants to be number one, not number two or number three.” OK, then. Now we know.
On Monday, Softbank announced officially that it would be parting with just over $20 billion for a 70% stake in Sprint. Sprint has been stalling at Son’s dreaded third place in the US’ wireless network race.
So once this acquisition is over, that just leaves AT&T as fully US-owned of the top 4 major US carriers. T-Mobile is part German, Verizon is part British and soon Sprint will be part Japanese.