Bright, Quick, & Flexible

Softbank of Japan and Sprint of the US apparently have reached a deal where Softbank will pay $20 billion for a 70 percent stake in the wireless telecom operator, according to people close to the situation.

The transaction will have Softbank buy $8 billion worth of shares directly from Sprint. More information here.

Another huge gamble for Softbank who purchased flailing Vodafone’s profitable Japan operation in 2006, turning it into a huge success with the timing of the Apple iPhone to expand sales.