SoftBank Group Starts Talks on Selling T-Mobile Shares

Economy

Tokyo, June 16 (Jiji Press)--SoftBank Group Corp. <9984> said Tuesday that it has started discussions on financial transactions concerning its stake in T-Mobile US Inc., including selling shares out of its holdings.

The Japanese technology conglomerate is currently in talks with T-Mobile, an equity-method affiliate, and Deutsche Telekom, a shareholder of the major U.S. mobile carrier.

T-Mobile has a market capitalization of some 129 billion dollars, or over 13 trillion yen. SoftBank Group currently own a 25 pct stake in the company.

As the Japanese company suffered a large amount of losses from its investment operations, it aims to secure up to 4.5 trillion yen through selling its assets and other ways.

Transactions using T-Mobile shares are part of such plan.

[Copyright The Jiji Press, Ltd.]

Jiji Press