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Report: Sprint actively seeking funding for T-Mobile buy

updated 08:33 am EST, Sun December 22, 2013

Softbank's Son said to approach banks for funding.

Sprint appears to be actively moving toward making a bid for T-Mobile next year, as Masayoshi Son - head of Softbank, which bought Sprint this year - is said to be courting banks to finance a potential acquisition. This according to Bloomberg, which cited sources familiar with Son's plans in saying that he is looking for roughly $20 billion to finance a T-Mobile buy. Son is said to have consulted with six banks, including Deutsche Bank AG, JPMorgan Chase, Credit Suisse, Mizuho Bank, and Goldman Sachs.

Son's goal would be to take control of T-Mobile buy buying Deutsche Telekom's 67 percent stake in the carrier with cash. Deutsche Telekom is willing to sell its $16 billion stake in T-Mobile, and a number of players - including AT&T, Sprint, and Dish Network - have expressed interest in the United States' fourth-largest carrier over the past few years.

Buying T-Mobile would be in line with what Son previously expressed as his goals for Sprint when Softbank bought a 70 percent share in the carrier earlier this year. At the time, Son said that he expected to build on Sprint's spectrum position, with the goal of acquiring more spectrum and other operators as time goes on.

The move to acquire T-Mobile could bring Softbank and Dish Network into conflict for the second time in a year. Dish Network, which tried and failed to purchase Sprint before the Softbank deal was completed, has also expressed interest in acquiring T-Mobile, as it believes such an acquisition could give it a unique wireless services niche. [Lead image: Softbank CEO Masayoshi Son, image via Saving Japan]




by MacNN Staff

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