SoftBank to spend $1.26 bln on majority Brightstar stake

Reuters

NEW YORK, Oct 18 (Reuters) - SoftBank Corp said onFriday it agreed to pay $1.26 billion for a 57 percent stake inprivately held cellphone distributor Brightstar Corp.

After the deal SoftBank, the 80 percent owner of No. 3 U.S.mobile operator Sprint Corp, said Brightstar would becomethe exclusive provider of handsets to some SoftBank affiliates.

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