SoftBank to sell $20B stake in T-Mobile - report

Tuesday, 16. June 2020 15:55

SoftBank is planning to sell about two-thirds of its stake in T-Mobile US in a deal worth around $20 billion, CNBC reported on Tuesday citing sources close to the matter.

It is still unclear who would purchase the shares but sources stressed that Deutsche Telekom, which owns a 43% stake in T-Mobile, wants to keep control over its subsidiary. In May, reports claimed SoftBank would sell a notable portion of its shares in the telecommunications company to Deutsche Telekom, which would result in the German company owning more than 50% of T-Mobile US.

T-Mobile shares slid 1.58% to $103.02 at 9:51 am ET.

Related Links: Softbank Group CorporationT-Mobile US, Inc.
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Breaking the News / NP