Japanese mobile phone company Softbank will reportedly buy 70% of US carrier Sprint Nextel for $20.1bn.
The takeover of the number three mobile carrier in the US will make Softbank one of the world's three biggest mobile phone operators, with 96 million users.
If it is approved by shareholders and regulators, the companies expect to complete the transaction by the middle of 2013.
The BBC reports that under the terms of the deal, Dan Hesse is to stay in his job as chief executive of Sprint.
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