Rabu, 04 Juni 2014

DealBook: Sprint and T-Mobile Agree on Terms of $32 Billion Deal

 A Sprint store in New York.Andrew Kelly/Reuters A Sprint store in New York.

Sprint and T-Mobile have settled on the terms of a $32 billion deal that would further reshape the telecommunications industry, according to a person briefed on the matter.

Both sides have agreed on a set of terms that would see Sprint, which is majority-owned by Japan's Softbank, acquire T-Mobile, creating a more formidable rival to the two largest wireless phone providers in the United States, Verizon and AT&T.

Sprint would pay about $40 a share in cash and stock for T-Mobile, about a 17 percent premium to Wednesday's price, according to the preliminary agreement.

After the deal, Deutsche Telekom, the majority owner of T-Mobile, would own about 20 percent of the merged entity. Deutsche Telekom currently owns about 67 percent of T-Mobile

The deal is sure to face regulatory scrutiny, and the early terms of the deal would include a breakup fee of more than $1 billion that Sprint would pay T-Mobile if the deal is not consummated.

An announcement is still a ways off. The two sides have not conducted due diligence on one another, drafted a definitive agreement or arranged financing. A deal could be announced in July, but could come as late as August.

Bloomberg and The Wall Street Journal earlier reported that the companies had agreed on deal terms.


source : http://rss.nytimes.com/c/34625/f/640316/s/3b2c165d/sc/46/l/0Ldealbook0Bnytimes0N0C20A140C0A60C0A40Csprint0Eand0Et0Emobile0Eagree0Eon0Eterms0Eof0E320Ebillion0Edeal0C0Dpartner0Frss0Gemc0Frss/story01.htm

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