Sprint is reportedly in final stages of acquiring T


Sprint's deal for T-Mobile is expected to be worth more than $19 billion. (Victor J. Blue / Bloomberg / )


Sprint Nextel Corp.'s Japanese parent company, SoftBank Corp., is reportedly close to acquiring rival T-Mobile from German communications company Deutsche Telekom in a deal that is expected to be worth more than $19 billion.


Earlier this month, the Wall Street Journal reported that Sprint was interested in T-Mobile, but Japan's Nikkei news service said Tuesday that SoftBank had entered final stages of talks with Deutsche Telekom about the deal, according to Reuters.


SoftBank, which acquired 80% of Sprint this year, is reportedly interested in acquiring T-Mobile to create a third wireless power that could compete with Verizon and AT&T, the top two carriers in the U.S.


PHOTOS: Top smartphone apps to find last-minute deals on gifts

SoftBank is exploring different ways to make the deal happen -- such as by paying with shares of Sprint or borrowing from banks -- but Deutsche Telekom would prefer a cash a deal, Nikkei reported, citing unnamed sources.


However, any deal involving the merger of Sprint and T-Mobile is expected to draw regulatory scrutiny. Two years ago, AT&T was blocked from acquiring T-Mobile, but Sprint is smaller than AT&T, which may give its deal a more realistic chance of being approved.


Neither Sprint nor T-Mobile could be reached for comment.


ALSO: Here's how to track Santa Claus' trip around the world Apple bought mapping, note-taking technologies in 2013

Google edges Apple as most talked about company of 2013


Comments

Popular posts from this blog

Dropbox Issues Outage Post

Post

Axiom's new HQ gets kudos from Houston media