Advertisement
U.S. markets closed
  • S&P 500

    5,088.80
    +1.77 (+0.03%)
     
  • Dow 30

    39,131.53
    +62.42 (+0.16%)
     
  • Nasdaq

    15,996.82
    -44.80 (-0.28%)
     
  • Russell 2000

    2,016.69
    +2.85 (+0.14%)
     
  • Crude Oil

    76.57
    -2.04 (-2.60%)
     
  • Gold

    2,045.80
    +15.10 (+0.74%)
     
  • Silver

    22.98
    +0.19 (+0.84%)
     
  • EUR/USD

    1.0823
    -0.0005 (-0.04%)
     
  • 10-Yr Bond

    4.2600
    -0.0670 (-1.55%)
     
  • GBP/USD

    1.2673
    +0.0015 (+0.12%)
     
  • USD/JPY

    150.4400
    -0.0600 (-0.04%)
     
  • Bitcoin USD

    51,007.60
    -75.19 (-0.15%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,706.28
    +21.79 (+0.28%)
     
  • Nikkei 225

    39,098.68
    +836.48 (+2.19%)
     

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)

Advertisement