SoftBank Group confirmed today it is considering selling its T-Mobile U.S. shares.
Bloomberg reported last month that SoftBank was nearing an agreement to sell about $20 billion of its T-Mobile U.S. shares to investors, including Deutsche Telekom, T-Mobile’s controlling shareholder, in an effort to offset major losses from its investment business, including the Vision Fund.
In today’s notice, SoftBank Group, which owns about 25% of T-Mobile U.S. shares, said it is exploring transactions that could include private placements or public offerings and transactions with T-Mobile or its shareholders, including Deutsche Telekom AG, or third parties.
The potential sale would be part of SoftBank Group’s program, announced in March, to sell or monetize up to $41 billion in assets to reduce debt and increase its cash reserves. The company said, however, that it cannot assure any of the transactions involving T-Mobile shares will be completed.
Source: Tech Crunch Mobiles | SoftBank confirms it may sell some of its T-Mobile stake
No Comments