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Japan's SoftBank raises Sprint offer to $27 billion

Published on Jun 11, 2013 8:54 AM
 
Pedestrians walk in front of a shop of Japan's mobile carrier SoftBank in Tokyo on June 11, 2013. Japan's SoftBank said on Tuesday that it was raising its bid for US wireless carrier Sprint Nextel Corp as it looks to head off a rival offer with a higher headline figure from Clearwire. -- PHOTO: AFP

TOKYO (AFP) - Japan's SoftBank said on Tuesday that it was raising its bid for US wireless carrier Sprint Nextel Corp as it looks to head off a rival offer with a higher headline figure from Clearwire.

Softbank said in Tokyo it would up its original bid by US$1.5 billion to US$21.6 billion (S$27 billion).

The move came just ahead of the Wednesday meeting of Sprint shareholders, when they are set to vote on the proposed takeover.