SoftBank which controls 80% of Sprint is expressing optimism about the prospect for mergers in the U.S. wireless carrier industry under President Trump.
The Obama administration was "quite tough on business," SoftBank CEO Masayoshi Son said Wednesday. But now the "door is open" for potential deals he added.
Masayoshi Son failed in an attempt to merge Sprint with T-Mobile back in 2014 after the plan ran into regulatory hurdles. SoftBank paid $20.1 billion October 14th 2012 taking 70% control, on August 6th 2013 Softbank purchased another 2% raising their stakes to 80% ownership of Sprint and has struggled to turn the U.S. carrier around since.
Now, Masayoshi Son is ready to try again saying that while he is open to other options, T-Mobile remains his "first priority" for a merger with Sprint. T-Mobile CEO John Legere said earlier this year that the company was open to "various forms of consolidation."
Source: CNN Money