Softbank Deal to Force Sprint Out of S&P 500 Stock Market Index
Although the deal by Softbank to buy a 70% stake in Sprint is still waiting
for final regulatory approval, it is widely expected to get that approval.
As a result of the deal, Sprint's public float is expected to fall
substantially below the 50% public float criteria necessary for continued
inclusion in the index and the company will be removed from the S&P 500
after the close of trading next Monday.
Softbank is buying a 78% stake in Sprint, while the remaining 22% will stay
listed on the New York Stock Exchange.
Sprint's place in the index is being taken by Nielsen Holdings, an
information and measurement company.
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