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Technology Stocks : Sprint Nextel Corporation (S)
S 8.6200.0%Apr 1 12:00 AM EDT

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From: Sr K2/28/2013 1:59:25 AM
   of 1691
Compare to what Apple is doing with its cash.

Softbank’s Son Saves $2 Billion Hedging Sprint Deal
By Mariko Yasu & Grace Huang - Feb 27, 2013 9:20 PM ET

Masayoshi Son became Japan’s second- richest man by knowing when to take a risk. He also knows how to avoid one.

The chairman of Softbank Corp. (9984) hedged the company’s $20 billion purchase of Sprint Nextel Corp. (S) by fixing the cost of dollars needed for the acquisition at 82.2 yen each. The move will save him at least $2 billion as the yen has weakened about 15 percent since the deal was announced Oct. 15.

“The yen’s move was very fast, so Softbank’s hedge is outstanding,” said Kimihiko Tomita, head of foreign exchange in Tokyo at State Street Bank & Trust Co. “They moved rather quickly to get the dollar at that rate.”
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