U.S. markets closed
  • S&P 500

    4,232.60
    +30.98 (+0.74%)
     
  • Dow 30

    34,777.76
    +229.23 (+0.66%)
     
  • Nasdaq

    13,752.24
    +119.39 (+0.88%)
     
  • Russell 2000

    2,271.63
    +30.21 (+1.35%)
     
  • Crude Oil

    64.83
    +0.12 (+0.19%)
     
  • Gold

    1,832.70
    +17.00 (+0.94%)
     
  • Silver

    27.56
    +0.08 (+0.28%)
     
  • EUR/USD

    1.2170
    +0.0101 (+0.84%)
     
  • 10-Yr Bond

    1.5770
    +0.0160 (+1.02%)
     
  • GBP/USD

    1.4006
    +0.0113 (+0.82%)
     
  • USD/JPY

    108.6010
    -0.4840 (-0.44%)
     
  • BTC-USD

    57,942.92
    +2,120.10 (+3.80%)
     
  • CMC Crypto 200

    1,496.03
    +60.25 (+4.20%)
     
  • FTSE 100

    7,129.71
    +53.54 (+0.76%)
     
  • Nikkei 225

    29,357.82
    +26.45 (+0.09%)
     

SoftBank gets closer to buying T-Mobile: report

Softbank Corp President Masayoshi Son speaks during a news conference in Tokyo July 30, 2013. REUTERS/Issei Kato

(Reuters) - Japan-based SoftBank Corp (TYO:9984) is in final stages of talks with T-Mobile (TMUS.N)parent company Deutsche Telekom (DTE.DE)about acquiring the U.S.-based wireless carrier, the Nikkei news service reported on Tuesday, citing anonymous sources.

SoftBank, which purchased 80 percent of Sprint (NYS:S) earlier this year, wants to pay for T-Mobile using shares of Sprint as early as next spring in a deal worth more than $19 billion, the report said. SoftBank aims to have Sprint buy the majority of T-Mobile shares.

SoftBank has thought about a stock swap but now may have added a tender offer and other kinds of deals to its list of options, Nikkei reported. Deutsche Telekom prefers a cash deal, the story said.

SoftBank is speaking to banks about borrowing funds for a deal, according to news reports.

Sprint has been interested in combining with T-Mobile for years and top executives from both companies have said that consolidation is needed in the U.S. wireless market to create a stronger rival against the biggest players, Verizon and AT&T.

A tie-up between Sprint and T-Mobile is expected to draw regulatory scrutiny, experts have said.

Shares of T-Mobile rose 21 cents or 0.7 percent to $32.06 per share.

(Reporting by Liana B. Baker; Editing by David Gregorio)