Report: Sprint reaches deal with Japan's Softbank

http://bigstory.ap.org/article/report-sprint-reaches-deal-japans-softbank

Japanese mobile phone company Softbank is agreeing to buy 70 percent of Sprint Nextel Corp. for $20 billion, according to a news report.

The deal is expected to be announced Monday, according to CNBC's web site, which cited anonymous sources "close to the situation."