The fortunes of
T-Mobile Us Inc (NASDAQ: TMUS) expect to change as its largest investor plans to acquire a balance 8% stake in it from
SoftBank Group Corp (OTCMKTS: SFTBF).
SoftBank to gain $12 billion
According to the recent reports in Bloomberg and Handelsblatt,
Deutsche Telekom AG (OTCMKTS: DTEGF) plans to become a significant shareholder by exercising its option to clinch an 8% stake of SoftBank in T-Mobile. The transaction would result in a windfall gain of $12 billion to Japan-based SoftBank.
Improves appeal of T-Mobile to investors
The sale transaction of SoftBank would improve the appeal of T-Mobile to the investors. T-Mobile stock appreciated 215% in the past few years and just shy of reaching $170 billion. Its peers, Verizon has climbed by just 15%, whereas AT&T declined by 24% in the same period. T-Mobile’s growth is on the backdrop of its merger with Sprint and significant change after that.
Letitia James
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
A Peek Into The Markets: US Stock Futures Mixed; Crude Oil Rises 1%
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.