Softbank chief stages discussions with five banks over T-Mobile US takeover funding

24 Dec 2013

Masayoshi Son, the CEO of Japanese telecoms group Softbank Corp, has held talks with at least five banks with a view to financing a possible bid by its 80% subsidiary Sprint Corp for a majority stake in T-Mobile US, Bloomberg has reported. Anonymous sources close to the deal told the news agency that Son has met with executives from Credit Suisse Group, Mizuho Bank, Goldman Sachs Group, Deutsche Bank and JPMorgan Chase & Co, to get financing of around USD20 billion. Raine Group was reported to be advising Softbank for the bid, which could see Sprint, the third largest US wireless carrier, merge with the fourth largest, in a bid to gain ground on Verizon Wireless and AT&T Mobility.

United States, SoftBank Group Corp, Sprint Corporation (now part of T-Mobile US), T-Mobile US