T-Mobile also shot up its market value to about $50 billion while Sprint stayed on the $36 billion range.
Sprint (S) parent SoftBank Group (SFTBY) is planning to approach T-Mobile US (TMUS) about a merger between the two telecom giants, Reuters reported Friday, citing sources. Those following the telecom markets closely may remember that T-Mobile, owned by Deutsche Telecom (DT) was in talks to be acquired by Softbank, which owns Sprint.
T-Mobile is the larger of the two carriers, with $37.2 billion in sales previous year, compared with $32.9 billion in revenue for Sprint over the past 12 months. Sprint and T-Mobile didn't immediately return requests for comment.
SoftBank has indicated its willingness to cede control of Sprint in its effort to merge the carrier with rival T-Mobile.
What do you think of the idea? As such, no one was surprised when Deutsche Telekom began expressing its unwillingness to part with T-Mobile of late. With that being said, neither company will be able to discuss a merger until after March 31 due to anti-collusion rules that are in place during the current wireless spectrum auction.
GST Council approves draft Compensation Law
The next meeting on GST bill implementation will be held on March 4, 2017 and March 5, 2017. Legal vetting was done and legally vetted drafts were to be presented before the Council.
This is the second time Softbank has tried to acquire T-Mobile.
Officially, talks between the two companies can not begin until April.
"We may buy, we may sell - maybe a simple merger". T-Mobile closed up 5.5% at $63.92.
RBC Capital, in a January 29 research note, said the Department of Justice would still veto a Sprint-T-Mobile deal. T-Mobile shares are up 72 percent over the past year, and Sprint has more than tripled. Visit MarketWatch.com for more information on this news. "I would much rather ensure that the regulatory framework promotes competition, and make sure that we take action to prevent anti-competitive conduct". Verizon has also been exploring other acquisitions.
"President Trump has promised to ease various regulations and that should make it easier to do business", Son said at the time.