06.02.2014 05:38:31

Bloomberg: SoftBank To Decide On T-Mobile Bid Within Weeks

(RTTNews) - After speaking with U.S. regulators, Tokyo-based Softbank Corp. (SFTBF.PK) would decide within weeks on whether to make a bid for T-Mobile US Inc., Bloomberg reported, quoting people with knowledge of the matter.

Softbank chairman and chief executive officer Masayoshi Son, who is also the chairman of Sprint, and Sprint Chief Executive Dan Hesse had held a meeting with Federal Communications Commission Chairman Tom Wheeler earlier this week.

Wheeler reportedly told Son and Hesse that he was skeptical of the potential bid and that he would keep an open mind about it. SoftBank acquired Sprint last year.

Son is expected to meet Deutsche Telekom AG (DTEGY.PK), which owns T-Mobile, to communicate the regulatory sentiment about such a deal.

The Wall Street Journal had said in December 2013 that Sprint, the third largest U.S. wireless carrier, is preparing a possible bid for rival T-Mobile US. Sprint was studying regulatory concerns and could launch a bid worth more than $20 billion in the first half of next year, the report had said.

Sprint is arguing for more U.S. mobile industry consolidation. The company is of the view that the current market is not sufficiently serving customers due to the dominance of top players Verizon Communications Inc. and AT&T Inc.

S closed up 8.4 percent on Wednesday at $8.50 and slid around 1 percent in the extended trade.

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