Sprint limbers up for T-Mobile pursuit; executives negotiate debt arrangements

1 May 2014

Sprint Corp plans to push ahead with its long-rumoured bid for T-Mobile US after meeting with banks last month to secure make debt arrangements, people with knowledge of the situation have informed Bloomberg. Sprint chief financial officer Joe Euteneuer and treasurer Greg Block met with six banks in April to ensure that the lenders would be ready with financing structures when Sprint decides to pursue a takeover, three unnamed sources have confirmed. Masayoshi Son, chief executive officer of Softbank Corp, which owns 78% of Sprint, is expected to make a formal bid in June or July, one of the sources added. T-Mobile US has a market value of USD23.5 billion, the news agency notes.

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