Softbank shares plunged on news it is in talks to buy a majority stake in Sprint Nextel for more than $12.8 billion, adding yet another potential shake-up to the fast-changing U.S. wireless market.
U.S. Internet ad spending slowed sharply in the first half of the year after a strong recovery in 2011, but still hit a new high of $17 billion as smartphones and tablet devices became more popular.
Japanese mobile carrier Softbank is in talks to buy a majority stake in U.S. operator Sprint Nextel for more than $12.8 billion, according to a source with direct knowledge of the matter, adding yet another potential shake-up to the fast-changing U.S. wireless market.