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Sprint Said to Plan T-Mobile Bid as Banks Pushed for Funds

Sprint Corp. plans to push forward with a bid for T-Mobile US Inc. after meeting with banks last month to make debt arrangements for that offer, people with knowledge of the situation said.

Sprint Chief Financial Officer Joe Euteneuer and Treasurer Greg Block met with six banks to ensure the lenders would be ready with financing structures when Sprint decides to pursue a takeover, said three of the people, asking not to named because the discussions are private. T-Mobile ended trading yesterday with a market value of about $23.5 billion.