Report: Sprint Will Try to Buy T-Mobile in June or July

Sprint and T-Mobile

Sprint plans to push forward with a bid for T-Mobile after meeting with banks last month to make debt arrangements for that offer, people with knowledge of the situation said. Sprint Chief Financial Officer Joe Euteneuer and Treasurer Greg Block met with six banks to ensure the lenders would be ready with financing structures when Sprint decides to pursue a takeover, said three of the people, asking not to named because the discussions are private. T-Mobile ended trading yesterday with a market value of about $23.5 billion. Masayoshi Son, chief executive officer of SoftBank, which owns about 80 percent of Sprint, is expected to make a formal bid in June or July, one of the people said. While regulators have expressed concerns about a combination of the third- and fourth-largest wireless carriers in the U.S., Son and his advisers are hoping to convince the Federal Communications Commission and the Department of Justice about the long-term health of the industry.

Read the full story at Bloomberg.

Share/Bookmark

Author:

Speak Your Mind

*