Sprint (S) Continues to Find Support Amid Softbank Bid

Sprint Corp. (NYSE: S) shares were strong Tuesday as Softbank continued to add to its stake in the company.

Earlier, in a form 4 filing with the SEC, Softbank showed it added 16.8 million shares to its stake, taking the total to 3.19 billion shares. On August 12, a similar filing showed it acquired 22.9 million shares. At the time, Softbank said it was enthusiastic about Sprint's prospects, adding that any future purchases will be on an "opportunistic basis."

Based on recent purchases, and today's strong bid in Sprint, opportunity appears to be knocking for Softbank to grow its Sprint stake.

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