SoftBank Group confirmed today it is considering selling its T-Mobile U.S. shares.
Bloomberg reported last month that SoftBank was nearing an agreement to sell about $20 billion of its T-Mobile U.S. shares to investors including Deutsche Telekom, T-Mobile’s controlling shareholder, in an effort to offset major losses from its investment business, including the Vision Fund.
In today’s notice, SoftBank Group, which owns about 25% of T-Mobile U.S. shares, said it is exploring transactions that could include private placements or public offerings and transactions with T-Mobile or its shareholders, including Deutsche Telekom AG, or third parties.
The potential sale would be part of SoftBank Group’s program, announced in March, to sell or monetize up to $41 billion in assets to reduce debt and increase its cash reserves. The company said, however, that it cannot assure any of the transactions involving T-Mobile shares will be completed.
Written by Catherine Shu
This news first appeared on https://techcrunch.com/2020/06/15/softbank-confirms-it-may-sell-some-of-its-t-mobile-stake/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “SoftBank confirms it may sell some of its T-Mobile stake”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
