Sprint is nearing an agreement to purchase T-Mobile for $40 per share, multiple outlets are reporting. The deal has been rumored for months,
with SoftBank CEO Masayoshi Son pledging to launch a price war with
larger competitors AT&T and Verizon Wireless if the deal is approved
by US regulators. SoftBank completed its acquisition of Sprint for $21.6 billion last summer. Son has subsequently begun to rally Americans against the relatively dismal internet service they get for the prices they pay.
Bloomberg reports
that Sprint's offer is roughly half stock and half cash, and would
leave Deutsche Telekom with about 15 percent of T-Mobile. The deal could
be announced next month, Bloomberg said. Deutsche Telekom, which
currently owns a majority stake in T-Mobile US, has reportedly been in active discussions
with SoftBank over who would run the combined company. T-Mobile's
outspoken CEO John Legere, according to one source. Over the past two
years, Legere has breathed new life into the fourth-place carrier with
his "Uncarrier" movement.
source: The Verge http://www.theverge.com/2014/6/4/5780704/sprint-is-reportedly-close-to-an-agreement-to-buy-t-mobile
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