Sprint is close to taking another huge step toward buying T-Mobile

Sprint T-Mobile Merger News

It looks like Sprint is really gearing up to buy T-Mobile, whether regulators want to see it happen or not. Reuters‘ sources say that Sprint is very close to raising a $40 billion debt package from eight different banks that it will use to buy up T-Mobile, including “a bridge loan of roughly $20 billion from Japan’s Softbank Corp to Sprint.” Reuters expects that the package will be finalized within the next month, which will take Sprint another big step close to buying up the so-called “Uncarrier.”

We learned earlier this month that Sprint parent company SoftBank and T-Mobile parent company Deutsche Telekom had agreed to a deal that would see SoftBank acquire a majority stake in T-Mobile for $40 per share in a deal worth $32 billion. SoftBank has argued that it needs T-Mobile to build Sprint into a truly competitive wireless carrier, although its arguments have been greeted with skepticism by regulators so far.

Source:
Reuters
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