Softbank confirms mulling sale of T-Mobile US shares

News Wireless United States 16 JUN 2020
Softbank confirms mulling sale of T-Mobile US shares
The Softbank Group has confirmed it is mulling the sale of a stake in T-Mobile US. The company owns around 25 percent of T-Mobile US after its merger with Sprint. Deutsche Telekom holds 44 percent. Softbank said the potential sale would help finance its programme to buy back shares and reduce debt. The company is looking to raise up to JPY 4.5 trillion from asset sales over the coming four quarters. 

The sale of a stake in T-Mobile US could take place through a private placement, a transaction with shareholders including Deutsche Telekom or third parties, under hedging transactions or loans, or through another type of deal, Softbank said. The company added that it's in talks with Deutsche Telekom and T-Mobile on the matter. 

At this point, the matter is still at an initial stage, with no assurance any transaction will take place at all.

Categories:

Mobile

Companies:

Sprint,  Softbank,  Deutsche Telekom,  T-Mobile US

Countries:

United States

Tags:

Shareholders & subsidiaries, Corporate strategy, Financial funding, M&A buyouts & divestments

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