Tuesday, December 24, 2013

SoftBank Gets Closer To Buying T-Mobile

SoftBank is said to be in the final stage of talks with Deutsche Telekom to purchase its T-Mobile shares. 

SoftBank was considering using some of the shares of Sprint that it owns, to purchase the T-Mobile shares it wants to buy. But Deutsche Telekom is said to be holding out for cash instead of stock, and that has led SoftBank to visit 5 major banks, seeking to borrow the $19 billion that it needs to complete a deal for T-Mobile.

A Sprint-T-Mobile combination would provide a much tougher challenge for the top two U.S.carriers, Verizon and AT&T.

Source: Reuters

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