Sprint Falls on Concern T-Mobile Deal Won't Provide a PremiumBy
SoftBank Group Corp. the majority owner of Sprint, is willing to accept a deal that would value Sprint at or near its market price, Bloomberg reported Friday, citing people familiar with the matter. The two sides haven’t agreed on exact terms, said the people, who asked not to be identified because the discussions are private.
Deutsche Telekom AG, the majority owner of third-largest U.S. wireless provider T-Mobile, previously told SoftBank that Sprint shares should be valued at a significant discount to their market value, two of the people said. In recent months, Deutsche Telekom has told SoftBank it’s willing to come up on value for Sprint, they said.
Sprint fell as much as 8.2 percent to $7.82 in New York trading, its biggest intraday drop since May 3.