Technology

Reports: Sprint, T-Mobile near $32B deal

Sprint and T-Mobile are close to an agreement on a $32 billion merger deal, with a formal proposal being announced as soon as next month, according to multiple reports.

{mosads}The companies “have agreed on the broad terms” to Sprint’s long-rumored purchase of T-Mobile that would cost $40 per T-Mobile share, roughly $32 billion, plus debt, according to The Wall Street Journal.

A Bloomberg report, citing people familiar with the discussions, said there’s “lot of work to be done before a deal is completed, including deciding management of the new company.”

Sprint is majority-owned by Japan’s SoftBank, while Germany’s Deutsche Telekom owns about two thirds of T-Mobile.

Under the agreement the two companies reached Wednesday, which could be announced in July or August, “Deutsche Telekom, the majority owner of T-Mobile, would own about 20 percent of the merged entity,” according to a report from The New York Times.

A Sprint-T-Mobile merger would be the third major telecommunications merger in front of regulators this year.

Comcast announced its plans to purchase Time Warner Cable, a $45 billion deal that would combine two of the country’s largest cable companies and Internet providers, in February.

Last month, AT&T announced its plans to purchase satellite television company DirecTV for $48 billion.

Tags

The Hill has removed its comment section, as there are many other forums for readers to participate in the conversation. We invite you to join the discussion on Facebook and Twitter.

Most Popular

Load more

Video

See all Video