CNBC – When John Paulson founded his eponymous hedge fund company in 1994, his focus was merger arbitrage. Now, with a two-decade track record and one massive win in his credit strategy, he’s again finding luck with his original investing style\u2014and with telecommunications in particular.<\/p>\n
So far this year, Paulson has won big on the mobile carrier SoftBank Corp.’s $21.6 billion controlling investment in Sprint Nextel, a deal in which he lobbied successfully for a higher price and a bigger cash component. He’s improved his returns from MetroPCS’s sale to the T-Mobile unit of Deutsche Telekom by demanding better terms and less debt. And in the wake of news late Friday that AT&T planned to take over Leap Wireless in a $1.2 billion cash deal\u2014valuing the prepaid wireless provider at 88 percent above its share price at that time\u2014Paulson appears primed to make even more from his telecom holdings.<\/p>\n