Deutsche Telekom may have approved Softbank’s plan to buy T-Mobile

Reports of the Sprint T-Mobile merger have been coming in for the last few months now and yet no official bid has been submitted by the Softbank-owned third largest carrier in the U.S. Deutsche Telekom also has a say in this matter as it owns a controlling stake, 67 percent to be precise, of T-Mobile USA. Comments from DT top brass make it seem like they’re open to a merger and if a report from Japan’s Kyodo news agency is to be believed, Deutsche Telekom may already have approved Softbank’s plan to buy T-Mobile.

Germany’s Deutsche Telekom AG is willing to keep a minority stake in a deal to sell T-Mobile US Inc to Japan’s Softbank Corp, but other details such as price and financing remain to be worked out, according to sources familiar with the situation. Softbank owns a majority of Sprint Corp S.N, the third largest U.S. wireless carrier. Deutsche Telekom owns 67 percent of T-Mobile, which has a market value of $27.6 billion and is the fourth-largest U.S. wireless carrier. Earlier on Thursday, Kyodo news agency reported that Deutsche Telekom had agreed to a Softbank plan to buy T-Mobile. But sources familiar with the talks told Reuters that while the two sides are keen to get a deal done, a transaction was complicated, including the issue of getting regulatory approval – it would reduce the number of major U.S. mobile competitors to three from four. The sources said no decision was imminent.

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Written by Jesseb Shiloh

Jesseb Shiloh is new to blogging. He enjoys things that most don't and dismisses society as an unfortunate distraction. Find him on WeHeartWorld, Twitter, Facebook, and Pinterest.

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