Sunday, 05 July 2020

SoftBank kicks off $21 billion T-Mobile US share sale

Total Telecom
Tuesday 23 June 20

SoftBank Group Corp revealed a series of transactions on Monday to divest more than $21 billion worth of stock in …

SoftBank Group Corp revealed a series of transactions on Monday to divest more than $21 billion worth of stock in T-Mobile US, as part of a $41 billion share buyback and debt reduction plan.

Much of the shares divested by SoftBank were acquired by T-Mobile which plans to sell them on the open market to private investors. Softbank also granted T-Mobile options to acquire its remaining T-Mobile shares.

All in all, SoftBank will divest two-thirds of its 24.6% stake in T-Mobile US and has granted Deutsche Telekom AG call options to acquire its remaining shares.

SoftBank’s share value has more than doubled since mid-March, despite the economic disruption caused by COVID-19, as CEO Masayoshi Son moves streamline the Group’s investments, delighting investors.

 

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