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FEB 27, 2013 - Washington Business Journal

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Hedge could save SoftBank $2B on Sprint purchase

Japan’s SoftBank Corp. likely saved at least $2 billion on its proposed purchase of Sprint Nextel Corp. by fixing the cost of dollars it will need for the deal, Bloomberg reports. SoftBank hedged the company’s $20.1 billion bid for a 70 percent stake in Sprint, locking in an exchange rate of 82.2 yen to one U.S. dollar. The value of the yen has slid about 14 percent since SoftBank announced its bid for Sprint in mid October, the report says. SoftBank CEO Masayoshi Son said during a Jan. 31…

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