WASHINGTON, DC (WUSA) -- The nation's third largest cell phone company is about to make a major move.
Sprint Nextel has agreed to a $20.1 billion deal with Japan's Softbank.
It will give Sprint an immediate infusion of cash to help the company continue to modernize its network, improve 3G coverage and fund the roll out of a 4G network.
And that could be significantly beneficial Sprint subscribers.
The merger must be approved by shareholders and U.S. regulators.
It is expected to be completed in mid 2013.