AP News

News Summary: Sprint suitor Son stands apart


THE DEAL: In Softbank Corp. President Masayoshi Son's latest mega-deal, the Japanese company is taking 70 percent stake in Sprint Nextel Corp. for $20 billion.

THE DEAL-MAKER: The biggest foreign acquisition in the history of Japan Inc. underlines Son's unusual status in a corporate culture that has long favored stability over risk-taking.

BACKGROUND: Big deals are not the only reason Son has stood out. Now Japan's second-richest man, he is the grandson of a Korean immigrant and spent his childhood in a slum. He graduated from the University of California at Berkeley, inventing a pocket translator while in school.


Cash Is for Losers
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus