OREANDA-NEWS. SoftBank Corp. announced that it has entered into an agreement with Mr. Marcelo Claure to purchase all of the shares of common stock of Brightstar Global Group Inc. ("BGG"), a subsidiary of the Company in the United States, indirectly held by Mr. Marcelo Claure (37.7% of the outstanding shares of BGG) (the "Transaction"). BGG is the parent company (100% ownership) of Brightstar Corp., a wireless distributor located in the United States, and Mr. Marcelo Claure currently serves as President and CEO of both BGG and Brightstar Corp., as well as in various roles at certain of their subsidiaries and joint ventures. Mr. Marcelo Claure's interest in BGG is held through an entity that is 100% owned by him.

Upon the closing of the Transaction, the Company will hold all of the current outstanding shares of BGG common stock. Assuming the exercise of all outstanding BGG stock options granted to employees of BGG and its subsidiaries in accordance with its existing employee stock option plan, and the exercise of the Company's warrants to purchase shares of BGG common stock (for a de minimis exercise price), the Company's fully-diluted ownership of BGG would be 90.8%.

On August 5, 2014 (EDT), the Board of Directors of Sprint Corporation ("Sprint"), a subsidiary of the Company appointed Mr. Marcelo Claure as the new President and CEO of Sprint, effective as of August 11, 2014 (EDT). Mr. Marcelo Claure will resign from his positions as President and CEO of both BGG and Brightstar Corp., as well as from positions held at their various subsidiaries and joint ventures, immediately prior to becoming the President and CEO of Sprint.

Brightstar Corp. is the world's largest specialized wireless distributor and a leading provider of diversified services focused on enhancing the performance and results of the key participants in the wireless device value chain: manufacturers, operators and retailers. Its services include Supply Chain Solutions, Handset Protection & Insurance, Buyback and Trade-in Solutions, Multi-Channel Retail Solutions, and Financial Services. Today, Brightstar Corp. provides services in over 100 countries and has a local presence in over 50 countries.

Since consolidating Brightstar Corp. in January 2014, the Company has striven to reinforce its mobile communication businesses in Japan and the U.S. mainly though enhancing its purchasing scale of mobile devices. While, through cooperation with Brightstar Corp., the Company is successfully strengthening its mobile communication businesses in Japan and the U.S. as initially expected, it was determined that establishing an integrated management structure with Brightstar Corp. and deepening the collaborative relationship between the Company and Brightstar Corp. would create further.