Sprint Sets Sights on Verizon, AT&T as Deal Fight Recedes
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Sprint Nextel Corp., whose investors backed a takeover by SoftBank Corp. yesterday after an eight-month fight, is now preparing to use the firepower of its soon-to-be parent company to target Verizon Wireless and AT&T Inc.
The company stands to get about $5 billion from Tokyo-based SoftBank to help bolster its network and make acquisitions. While Sprint would have received more cash under a previous agreement that was changed to increase the payout to investors, the long-struggling company now has the wherewithal to better challenge its larger rivals.