SoftBank stock jumps nearly 14% after US judge approves T-Mobile-Sprint merger

Massive bet on Sprint is paying

A massive bet on Sprint is finally paying off for Masayoshi Son. Shares in his company SoftBank (SFTBF) rallied on Wednesday, after a US court approved the $26 billion merger between T-Mobile (TMUS) and Sprint (S), the carrier SoftBank acquired nearly a decade ago.

SoftBank stock spiked nearly 14% in morning trade in Tokyo.
Son has been trying to combine the United States’ third- and fourth-largest wireless carriers for years, with the goal of creating a heavyweight challenger to AT&T (T) and Verizon (VZ).
“All necessary federal approvals required for the [merger] to close have been obtained,” SoftBank said in a press release Wednesday.

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