FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
TOKYO (Reuters) – SoftBank Group Corp is in talks to sell “a significant portion” of its T-Mobile US stake to controlling shareholder Deutsche Telekom AG, the Wall Street Journal reported on Monday, citing unidentified sources.
A deal would see Deutsche Telekom’s stake in the carrier, which merged with SoftBank’s wireless unit Sprint last month, rise above 50%, the report said.
SoftBank is widely expected to try and monetise its T-Mobile stake as it looks to raise $41 billion through asset sales to prop up its floundering tech investing empire and fund a record share buyback.
Including the talks with Deutsche Telekom, SoftBank plans to seek buyers for about $20 billion of its shares in T-Mobile, working with banks including Morgan Stanley and Goldman Sachs Group Inc to round up investors, WSJ said in a separate report on Monday. (
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