Sprint Chairman Met With Buffett And Malone For Investment In Wireless Company

(RTTNews) - Sprint Corp. (S) Chairman Masayoshi Son held talks with Berkshire Hathaway Inc's. (BRK-B, BRK-A, BRKa) Warren Buffett and Liberty Media Corp.'s John Malone, about investing in wireless company, according to media reports, citing people familiar with the situation.

Masayoshi Son, the chief executive of Japan's SoftBank Group Corp (SFTBF.PK), which controls Sprint, held separate talks with billionaire investor and cable mogul at an annual gathering in Sun Valley, Idaho, the sources said on Friday, confirming a report in The Wall Street Journal.

According to reports, the talks are in the early stages and Buffett is considering an investment of up to $20 billion, while Malone would put in additional funding.

Shares of Sprint closed Friday's trading at $8.55, up $0.35 or 4.27%, on the NYSE. The stock further gained 0.70% in the after-hours trading.