SoftBank, Japan's third largest mobile carrier, is seeking to further expand its influence beyond the borders of its home country, and the Japanese government is eager to lend them a hand. 300 billion yen (approx. $3B USD) has been set aside and promised to the company for the purpose of new foreign acquisitions and investments.
Much of the money will be used for refinancing the company as it recovers from purchasing 70 percent of Sprint back in July, according to the Japanese business magazine Nikkei. The $21.6B purchase was the largest foreign acquisition to ever occur in Japan, and SoftBank has turned to nearly 20 different banks to help pay off the purchase.
Both the Japan Bank for International Cooperation and Development Bank of Japan are preparing to make the offer, Nikkei claims. Private banks Muzuho Bank and Sumitomo Mitsui Banking Corp are also set to pitch in.
Analysts in Japan have questioned the move seeing how the company is already indebted and recently had its status downgraded. SoftBank president Masayoshi Son has argued in favor of his business practices, citing the bank's willingness to loan him money as evidence.
SoftBank is currently set to see another huge fall season with the release of the iPhone 5s and iPhone 5c on hand. However, with rivals KDDI au and NTT DoCoMo now providing the phone to its customers, it remains to be seen how SoftBank will be affected after losing total exclusivity to the phone.
The Galaxy S20 Ultra's Space Zoom camera is amazing and a bit creepy
The Galaxy S20 Ultra supports up to 100X zoom, which Samsung calls Space Zoom, but is it any good? Can a phone really product usable photos at 100x zoom? We've got our Galaxy S20 Ultra already so join us to find out!
Win an iPhone, iPad and Apple Watch with the Reader's Choice giveaway!
What's the best phone of 2019? Is it the iPhone 11 Pro, Pixel 4 or OnePlus 7T? What about the best laptop, games console, tablet and more? Vote NOW in the Reader's Choice awards and win BIG in time for the holidays!
Here are the best products from IFA 2019!
Here are the products announced at IFA 2019 that were worthy of our Best of IFA 2019 awards. Also featuring MrMobile's single best product at the show!
Step into your favorite film with a pair of 3D glasses
Experience movies and video games in the most realistic way with a pair of 3D glasses. Our guide has the best to help you narrow down your choice.