Softbank reportedly will purchase a 70 percent stake of Sprint

Following up on previous reports of talks between Japan's Softbank and Sprint, numerous reports are now suggesting that Softbank will take on a 70 percent stake in Sprint.

Although nothing official has been laid down by either company at this point, CNBC and Business Insider are both reporting the deal will officially be announced as of Monday.

When it comes to the terms of the agreement, it's been suggested the deal will cost Softbank $20 billion -- $8 billion in shares directly from Sprint, and a $12 billion offer to buy shares from the public.

Overall, the deal is interesting and should buy Sprint some time to roll out their LTE network on a grander scale though it remains unknown what, exactly the deal will mean in the long-term for either company.

Source: Business Insider; CNBC

Chris Parsons

Editor-at-Large at Mobile Nations, gadget junkie, energy drinker, ranter.