Sprint (S) Now Sitting on Massive Cash Pile Following SoftBank Deal (T) (VZ)

Sprint (NYSE: S) may be the third largest U.S. wireless carrier behind the likes of AT&T (NYSE: T) and Verizon (NYSE: VZ), but it may have a secret weapon to increase its competitive position: cash.

Following the deal with SoftBank on Monday, Sprint will receive an $8 billion capital infusion in the deal. The extra funds will allow Sprint CEO Dan Hesse, who will remain in the position following the transaction, to make better deals for smartphones, improve Sprint's network, and possibly make some acquisitions along the way.

One analyst from BTIG says that Hesse's efforts to improve operations aided in bringing in the extra cash. He thinks that Sprint might be in a stronger tech position than AT&T within a year.

For details on the SoftBank/Sprint deal, which is valued at $20.1 billion, click here. Ahead of the bell Tuesday, Sprint is indicated higher, while Verizon and AT&T are both lower.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citigroup set to join top banks in Anthropic IPO - Bloomberg
• Deere conference call: 2027 orders up mid-single digits from last year)
• SentinelOne Inc (S) PT Raised to $22 at Barclays