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Bloomberg

Report: Sprint and T-Mobile Putting Finishing Touches on Merger

Oct 6, 2017  •  Post A Comment

“Sprint Corp. and T-Mobile US Inc. are putting the finishing touches on a merger that’s likely to be announced when the wireless carriers report quarterly earnings at the end of October, according to people familiar with the matter,” Bloomberg reports.

“Both sides are conducting final due diligence to decide on the exchange ratio that will determine Sprint’s valuation, said the people, who asked not to be identified because the discussions are private,” the report notes. “Setting an exchange ratio for the all-stock deal will be one of the last steps to clinching the merger and hasn’t yet been finalized, the people said.”

Bloomberg adds: “Sprint shares closed at $7.50 Thursday in New York, valuing the company at about $30 billion. SoftBank Group Corp., the majority owner of the fourth-largest U.S. carrier, would accept a valuation around Sprint’s market price, people familiar with the matter said in September. The wireless carriers are pursuing the deal to bulk up against larger competitors AT&T Inc. and Verizon Communications Inc. in a cutthroat market for mobile-phone customers.”

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