Breaking News

Tweet TWEET

SoftBank Falls on Report Sprint Is Considering T-Mobile Bid

SoftBank Corp. (9984), which acquired Sprint (S) Corp. this year, fell after a report the U.S. carrier is considering a bid for T-Mobile US Inc. (TMUS)

The shares dropped 3.2 percent to 8,620 yen at the close of trade in Tokyo. Sprint, the third-largest U.S. carrier, is studying antitrust concerns and could push ahead with a T-Mobile bid in the first half of next year, the Wall Street Journal reported, citing unidentified people familiar with the matter.

SoftBank, which paid $21.6 billion for control of Sprint in July, is seeking deals abroad amid a declining population at home. The company added agreements for majority stakes in gamemaker Supercell Oy and U.S. mobile-phone distributor Brightstar Corp. in October as billionaire founder Masayoshi Son seeks to build content to lure subscribers.

SoftBank plans to spend $16 billion at Sprint during the next two years for faster U.S. services as it tries to catch AT&T Inc. and Verizon Wireless. SoftBank owns stakes in more than 1,000 Internet businesses, and Son is Japan’s second-richest man with a net worth of $16.2 billion, according to the Bloomberg Billionaires Index.

Mitsuhiro Kurano, a Tokyo-based spokesman for SoftBank, declined to comment on the Wall Street Journal report.

Photographer: Kiyoshi Ota/Bloomberg

Pedestrians walk past a SoftBank Corp. store in Tokyo Close

Pedestrians walk past a SoftBank Corp. store in Tokyo

Close
Open
Photographer: Kiyoshi Ota/Bloomberg

Pedestrians walk past a SoftBank Corp. store in Tokyo

Deutsche Telekom AG (DTE), which this year merged its T-Mobile USA unit with MetroPCS Communications Inc., rose 4 percent to 11.81 euros at 12:05 p.m. in Frankfurt.

Philipp Schindera, a spokesman at Bonn-based Deutsche Telekom, declined to comment on any potential offer for T-Mobile US.

To contact the reporter on this story: Takashi Amano in Tokyo at tamano6@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.