Bloomberg is reporting that Sprint stock rose by 8.3% on the strength of rumors hinting SoftBank (Sprint owners) is on the verge of purchasing the 3rd largest American wireless network. If SoftBank does pull off the purchase of Sprint it will mean the merging of the 3rd and 4th largest American networks. Which also means tighter competition for the big 2, Verizon and AT&T. SoftBank likely has a better chance at sealing this deal where AT&T failed awhile back.
“Part of the plan all along has been for these two — No. 3 and No. 4 — to come together,” she said in an interview with Betty Liu on Bloomberg Television’s “In the Loop.” That suggests that the latest deal speculation may be valid, said Fritzsche, who has the equivalent of a buy rating on Sprint shares. “I very much think, where there’s smoke there’s fire.”
Things are becoming interesting on the wireless market, we will be interested in seeing how Sprint and T-Mobile handle the different technologies they each use. Hit the link below for source.
Updated: 12/28 we mistakenly indicated that SoftBank owned T-Mobile when they actually own Sprint. Apologies for the error, it has been fixed.
- Sprint’s Japanese overlords close in on T-Mobile USA buyout, report claims – TechRadar UK (newestgadgetsinfo.com)
- Merger madness: Context on Sprint’s potential bid for T-Mobile (bizjournals.com)
- Japan’s SoftBank Mulling $19 Billion Purchase Of T-Mobile via Stake In Sprint (hothardware.com)
- Talk of T-Mobile deal keeps Sprint stock rising (kansascity.com)