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Saturday, April 28, 2018
T-Mobile Closer to Sprint

T-Mobile US moving closer to a deal with Sprint Corp., Bloomberg reports, follow years of will-they-won't-they merger deliberations between the companies.

Bloomberg on Friday reported on proposed terms, saying that T-Mobile backer Deutsche Telekom AG would receive a 42 percent stake and 69 percent voting interest in the combined company.

At $24 billion, the deal would value Sprint shares at about $6.10 apiece. CNBC reported late Friday that the price could be about $6.50 a share, in line with Friday's close.

The previous negotiations broke down after the two sides couldn't agree on how to structure control of the combined entity.

Both companies have foreign owners, and a merger would reduce the U.S. wireless market to three major players. Tokyo-based SoftBank Group Corp. owns almost 85 percent of Sprint.

Earlier on Friday, Reuters said that an agreement could be reached as soon as next week.

Any new proposal would have to address the concerns that the Justice Department and the Federal Communications Commission had almost four years ago, when they rejected a previous attempt by SoftBank Chairman Masayoshi Son to merge the two carriers.

More recently, the Justice Department sued to block AT&T Inc.'s takeover of Time Warner Inc.

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