SoftBank in talks to sell down T-Mobile stake to Deutsche Telekom: WSJ

published 18.05.2020 08:35

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SoftBank and Deutsche Telekom were not immediately available for comment.

It did not say how much of SoftBank’s 24% stake in T-Mobile US the Japanese conglomerate was planning to sell down, nor how much it would raise for it.

A deal would see Deutsche Telekom’s stake in the carrier, which merged with SoftBank’s wireless unit Sprint last month, rise above 50%, the newspaper reported.

REUTERS/Issei Kato TOKYO (Reuters) - SoftBank Group Corp is in talks to sell “a significant portion” of its T-Mobile US stake to controlling shareholder Deutsche Telekom AG, the Wall Street Journal reported on Monday, citing unidentified sources.

SoftBank is widely expected to try and monetise its T-Mobile stake as it looks to raise $41 billion through asset sales to prop up its floundering tech investing empire and fund a record share buyback.