Deals
T-Mobile Advances Toward Deal for Sprint at $24 Billion
- Sprint shares plunge after Bloomberg reports on proposed terms
- Companies restarted talks earlier this year after breakdown
Sprint Falls 11% as T-Mobile Said to Advance Deal at $24B
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T-Mobile US Inc. and its German owners are advancing toward a long-awaited telecommunications union that would value merger partner Sprint Corp. at about $24 billion, according to people with knowledge of the matter.
Under the terms being discussed, T-Mobile backer Deutsche Telekom AG would receive a 42 percent stake and 69 percent voting interest in the combined company, said the people, who asked not to be identified because the talks are private.