A controversial new report from Bloomberg suggests that Japan's Softbank has entered into talks that could result in the takeover of US carrier Sprint.
Softbank, Japan’s third-largest mobile-phone company, has engaged in private discussions with Sprint. Softbank is said to also be planning to buy MetroPCS Communications Inc. through Sprint. A number of leading market watchers and analysts believe a deal could be announced very, very soon.
Sprint “represents the only way for a potential new entrant to get a national presence immediately in the U.S.,” Jennifer Fritzsche, an analyst at Wells Fargo & Co, tells Bloomberg. And given Sprint's commitment to carry the iPhone domestically, Softbank has added reason to see a bright spot in the carrier's future.
Yesterday, people familiar with the situation said Sprint was holding off on an immediate counterbid for MetroPCS to gain time to scrutinize Deutsche Telekom AG’s planned combination with T-Mobile USA. Nikkei earlier said Softbank is in talks to acquire the Sprint stake for more than 1.5 trillion yen ($19 billion), without saying where it got the information.