SoftBank confirms plan to offload T-Mobile shares - Mobile World Live

SoftBank confirms plan to offload T-Mobile shares

16 JUN 2020

SoftBank Group ended speculation around the future of its T-Mobile US holding, detailing a move to offload a stake in the operator as part of fundraising efforts to tackle its massive debt.

In a statement today (16 June), SoftBank said it is in talks with Deutsche Telekom and T-Mobile, but noted there is no assurance a deal will be finalised.

Any sale may include private placements or public offerings; transactions with stockholders of T-Mobile, including Deutsche Telekom or third parties; derivative or hedging transactions; margin loans; or other structured transactions, it stated.

Last month, Bloomberg reported SoftBank was considering selling $20 billion-worth of its holdings in the operator: it has a 25 per cent stake in T-Mobile following the US company’s merger with Sprint.

In March, SoftBank outlined plans to sell JPY4.5 trillion ($41.9 billion) in assets to reduce debt and buy-back JPY2 trillion worth of shares, after reporting a record net loss of JPY961.6 billion in the year to end-March.

It approved a sale of 240 million shares of its domestic mobile operator valued at JPY310 billion as part of the plan in May.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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