By Alex Ho
Investing.com – Softbank Group Corp. Shares (T 🙂 in Japan rose 14% on Wednesday in Asia after a U.S. judge approved a $ 26 billion merger between T-Mobile and Sprint that SoftBank bought almost a decade ago.
"All of the required state approvals required to complete the (merger) have been obtained," SoftBank said in a press release on Wednesday.
Masayoshi Son, CEO of the company, tried to merge Sprint and T-Mobile in 2013, but the deal was blocked by the Obama administration's concerns about regulatory challenges.
"At that moment I lost my confidence … I really didn't like the world anymore, I thought a lot and lost my hair," joked Son at a 2017 profit presentation.
Sprint Corp (NYSE 🙂 stock rose more than 70% on Tuesday after approval by the New York court. T-Mobile US Inc (NASDAQ 🙂 grew by almost 12%.
SoftBank will publish its quarterly results later in the day.
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