Vying for Sprint, Softbank said to bid $8.5B for Universal Music

Softbank President Masayoshi Son speaks about the Sprint merger during a Tokyo press conference in April.

(Credit:
Yoshikazu Tsuno/Getty)

Sprint Nextel apparently wasn’t the only company on Softbank’s shopping list.

The Japanese wireless carrier made an $8.5 billion cash offer for Universal Music Group three months ago while it was in the thick of a fight for Sprint, according to a Financial Times report. Vivendi, which owns the world’s largest music group, reportedly rejected the offer despite its $2 billion premium over the value some analysts have placed on the unit.

CNET has…

Read the rest here: Vying for Sprint, Softbank said to bid $8.5B for Universal Music

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