U.S. Markets closed

Sprint gets bank proposals on financing T-Mobile bid, WSJ says

Sprint (S) now has confidence that a deal for T-Mobile (TMUS) can be funded, as at least two banks have come forth with proposals on how to finance a takeover of its smaller rival, says the Wall Street Journal. Terms of the proposals have not been worked out but sources say that the proposals envision a total "enterprise value" of about $50B for the deal, which would be comprised of $31B for T-Mobile and another $20B to backstop a refinancing of existing T-Mobile debt, added the Wall Street Journal.