Sprint is on a drive to raise money, with Masayoshi Son, the CEO of parent Softbank, meeting with Warren Buffet’s Berkshire Hathaway and John Malone’s Liberty Media in Sun Valley, Idaho, at an annual gathering of CEOs, the Wall Street Journal reported, citing sources familiar with the situation. Talks are at an early stage but sources are saying Berkshire could invest USD 10 billion in Sprint.
Son controls more than 80 percent of Sprint, which has more than USD 32 billion in debt. In recent months, Sprint has also held merger talks with T-Mobile US and discussed a reseller agreement with cable providers, people familiar with the matter have said.
Sources later told Reuters that Berkshire could be considering an investment of up to USD 20 billion in Sprint; the amount that Liberty Media is looking to invest is not yet known. Both Sprint and SoftBank declined to comment. Berkshire Hathaway and Liberty Media did not immediately respond to Reuters requests for comment.
