On Monday, a report from the Wall Street Journal citing anonymous sources stated SoftBank Group Corp is in talks to sell “a significant portion” of its stake in T-Mobile US to controlling shareholder Deutsche Telekom AG.
“A deal would see Deutsche Telekom’s stake in the carrier, which merged with SoftBank’s wireless unit Sprint last month, rise above 50%,” said a source.
The report did not quantify what percentage of SoftBank’s 24% stake in T-Mobile US, SoftBank Group plans on selling; nor did it state how much it would raise for it.
Neither Deutsche Telekom nor SoftBank were immediately available for comment.
SoftBank is expected to try and monetize its T-Mobile stake as it looks to raise $41 billion through asset sales to prop up its floundering tech investing empire and fund a record share buyback.
“Lock-up provisions agreed to as part of the merger would likely be altered to permit the transaction,” said the WSJ report.