Son to build SoftBank into the world's largest enterprise

Absrtact: SoftBank CEO son June 21 Evening News, the Japanese mobile operator SoftBank CEO son (Masayoshi Son) said at the company's annual shareholder meeting today that he will work hard to build SoftBank into the world's largest enterprise. As the rival Dish Netwo

SoftBank CEO son

Beijing time June 21 Evening News, Japan mobile operator SoftBank CEO son (Masayoshi Son) at the company's annual shareholder meeting today, said he will strive to make soft silver into the world's largest enterprises.

SoftBank has almost already receptacle the US mobile operator Sprint Nextel and its key asset clearwire revenue, as rival Dish, who failed to give a higher offer this week. By the wind of victory, son uttered this rhetoric.

Son at the shareholder meeting said: "When I put forward the target of soft silver revenue will reach trillions of yen, everyone thought I was bragging, and in the year when SoftBank made its biggest loss in history, I said we would make a profit of trillions of yen in the near future, and everyone was mocking. I now believe that, by any measure, we will be the world's largest business, whether it be revenue, profit or market capitalisation. ”

After weeks of fighting with dish receptacle, the US satellite television provider, SoftBank is almost certain that Sprint and Clearwire will succeed. As a result, son seems to be the last issue of the annual shareholder meeting, as a big occasion to celebrate the victory. SoftBank shares rose 1.8% in Friday, a haze of stock prices falling early in the run-up to the end of the shareholder meeting.

SoftBank holds stakes in several companies, including Yahoo Japan, Alibaba Group and Ustream. Speaking at a shareholder meeting, son said SoftBank would find the challenge of leading a troubled sprint to recovery far less difficult than reversing the decline in Vodafone's Japanese business.

Unlike SoftBank's 2006 acquisition of Vodafone Japan, son points out, its operating profit has bottomed out with its huge line of business, including smartphones and high-speed networks. He also said that, given the size and purchasing power of SoftBank and Sprint's two companies, the latter would save about $2 billion to $3 billion a year in the three years before the deal was completed. SoftBank's deal to buy Sprint is expected to be completed by July this year.

By number of users, SoftBank and Sprint will be the third largest mobile operator in the world after the merger. Sprint's shareholders will vote on soft Silver's takeover offer next Tuesday.

In Monday, SoftBank agreed to raise the price of Sprint Nextel by 7.5% to $21.6 billion. Dish receptacle previously offered to buy a sprint at a price of 25.5 billion dollars. After SoftBank raised its offer, Dish receptacle said it would not make a new offer to sprint.

In Thursday, Sprint had the upper hand over the control of clearwire, dish receptacle. As the offer was raised to $5 per share, Sprint gained support from key shareholders in Clearewire. Clearwire has critical spectrum resources that are critical to Sprint's network upgrade plan.

According to the new offer from Sprint, Clearwire's valuation reached around $14 billion, 47% higher than the previous offer and higher than dish Receptacle's recent offer of $4.40 per share has won the support of Clearewire's key shareholder and board.

Son admits he is well prepared to bid for T us, the fourth-largest mobile operator in the United States, whose parent company is Deutsche Telekom, as the battle with dish receptacle on the bid for Sprint and Clearwire intensifies.

"We are facing a very serious challenge because dish receptacle may disrupt our plan," son said at today's annual shareholder meeting. "Today is a good day," he added, referring to the Clearwire board's decision. ”