Sprint chairman seeks investments from Buffett, Malone

Sprint rose as high as $8.64 in New York

Sprint Chairman Masayoshi Son held talks with billionaires Warren Buffett and John Malone about investing in the wireless company, according to a person familiar with the matter.

Buffett is considering an infusion of $10 billion to $20 billion, while Malone would put in additional funding, said the person, who asked not to be identified discussing private information. Part of the funding would dilute the 83 per cent stake held by Son’s SoftBank Group, while the rest would put cash into the company to strengthen it, the person said.

Son, the Japanese billionaire who controls SoftBank, held separate talks with the two men