A merger between wireless carriers Sprint and T-Mobile seems to be picking up steam, as Sprint parent company SoftBank Corp. has reportedly reached a skeletal agreement with T-Mobile parent Deutsche Telekom AG for the acquisition.
According to a new Reuters report, eight banks, including international banks JPMorgan Chase & Co, Goldman Sachs Group, Deutsche Bank AG, Bank of America Merrill Lynch and Citigroup Inc, have agreed to help finance the acquisition of T-Mobile. All in all we're looking at a $40 billion deal, $8 billion more than previously thought.
Sprint looks like it may get some support from T-Mobile concerning a potential merger between the two wireless networks as T-Mobile's chief financial officer stated he believes consolidation is inevitable at a media, internet and telecom conference Monday.
Sprint's support for acquiring fellow wireless service provider T-Mobile may be dwindling faster than it had hoped. Arguments that the two carriers can better compete with juggernauts Verizon and AT&T may lose steam as Deutsche Telekom AG, the owner of T-Mobile, is confident that T-Mobile can stand on its own.
Wireless carrier & communications network, T-Mobile is set to host an event in New York City’s Bryant Park to announce “Uncarrier 3.0,” on Wednesday, October 9th, and showstopper, Shakira will perform at the special event.