Business

Mass. Mover

Sprint Nextel considers selling stake

Sprint Nextel is the third-largest US wireless carrier.
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Sprint Nextel is the third-largest US wireless carrier.

Sprint Nextel said it is considering selling a majority stake to Japan’s SoftBank, the latest deal among industry underdogs who are scrambling to catch up to Verizon Wireless and AT&T.

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The company declined to provide details, but analysts who follow Sprint, the nation’s third-largest wireless carrier, said it would probably receive about $13 billion for selling a 75 percent stake to SoftBank. That deal could give Sprint some much-needed financial firepower to buy other companies.