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Sprint Corporation Message Board

  • no_deal_softbank no_deal_softbank Nov 16, 2012 2:49 PM Flag

    The only thing certain between Sprint and Softbank is this...

    SB bought $3.1B of convertible bonds that can convert to common shares at $5.25/sh.

    This results in 19.68% dilution to current shareholders.

    Hesse and the board approved of this dilution because they DID NOT NEED shareholder approval for selling off up to 19.99% of the company.

    Unless the DCC, DOJ, and majority of shareholders approve of the other terms in the deal, this 19.68% dilution is all you will "get".

    Hesse and the board approved this because the company because they couldn't deliver the goods and were desperate for more money to burn.

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