Japan's Softbank Talking to Banks for T-Mobile USA Takeover Bid
Published on: 23rd Dec 2013
By: Ian Mansfield
Japan's Softbank is said to be holding meetings with banks to raise funds for a possible purchase of T Mobile USA.
A merger of Sprint and T-Mobile in the USA has been mulled for some weeks, and as Sprint's majority shareholder, any deal would need Softbank's financial clout.
SoftBank's CEO Masayoshi Son was reported to have held talks with at least five banks to finance a possible bid, Bloomberg reported, citing unnamed sources.
He is said to be looking to raise around USD20 billion to buy Deutsche Telekom's 67% stake in T-Mobile USA.
When Deutsche Telekom agreed a merger of its T-Mobile division with MetroPCS it agreed not to sell any of its shares on the stock market for 18 months, but a clause allows a trade sale of its entire stake to a new buyer.
Deutsche Telekom hasn't held any talks with Son or Sprint on its stake in T-Mobile, said two of the people, though the German company is said to be open to selling it.
On the web: Bloomberg