Additional details emerged about a potential move by SoftBank Group to cut its stake in T-Mobile US, with Bloomberg reporting the company aimed to sell $20 billion-worth of its current holding.
The news outlet placed SoftBank’s stake at $31 billion, meaning the rumoured deal [1] would amount to a significant portion of its share in the recently combined business. As previously reported, Deutsche Telekom is in the frame as a purchaser, with Bloomberg stating other investors are also in discussions and a deal could be agreed this week.
Terms of the Sprint and T-Mobile merger agreement [2] would require Deutsche Telekom to agree to a sale to a third party, though direct transfers between the parents are fair game.
Deutsche Telekom holds a 43 per cent stake in T-Mobile, and CEO Timotheus Hoettges said on the German incumbent’s recent earnings call “we believe in the stock” but did not answer a question about upping its holding.
In March, Reuters speculated SoftBank could look to cut its T-Mobile stake after the Japan-based company outlined plans to shed $41 billion in assets [3] to cut debt.
The rumour mill stepped-up this week after SoftBank booked a record net loss [4] of JPY961.6 billion ($8.9 billion) in the year to end-March.
[1] https://www.mobileworldlive.com/featured-content/top-three/softbank-mulls-t-mobile-us-stake-cut/
[2] https://www.mobileworldlive.com/featured-content/home-banner/t-mobile-sprint-merger-amended/
[3] https://www.mobileworldlive.com/featured-content/top-three/softbank-to-offload-41b-in-assets-to-cut-debt/
[4] https://www.mobileworldlive.com/featured-content/top-three/softbank-suffers-record-loss-on-vision-fund-woes/
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