×

Sprint, Softbank start talks on T-Mobile merger: Bloomberg

  • Sprint and SoftBank have started preliminary conversations to merge with T-Mobile US, Bloomberg reported.
  • The FCC barred merger talks among telecom companies for more than a year as it conducted a $19.8 billion auction of airwaves from broadcasters for wireless use.
T-Mobile and Sprint
Getty Images

Sprint and its controlling shareholder SoftBank have started preliminary conversations to merge with T-Mobile US, Bloomberg reported on Friday, citing people familiar with the matter.

The U.S. Federal Communications Commission had barred merger talks among telecommunications companies for more than a year as it conducted a $19.8 billion auction of airwaves from broadcasters for wireless use.

Reuters reported in February that SoftBank was positioning itself for deal talks with Deutsche Telekom, which owns 64 percent of T-Mobile, once the auction was out of the way.

Deutsche Telekom, which shares rose as much as 3.5 percent on Friday on the news to a 17-month high of 17.30 euros, declined to comment on the report.

Sprint, SoftBank and T-Mobile US were not immediately available for comment outside regular business hours.