Son commented that he'd like to be "very honest in trying to start a negotiation" with T-Mobile, but also acknowledged a deal on that front would likely come with a fair amount of baggage.
Both companies' share prices rose on the news, "as investors bet a deal may finally happen under Trump's administration's looser regulatory climate", Bloomberg reported.
SoftBank Group Chairman Masayoshi Son's remarks that he wants to restart merger talks between his Sprint unit and T-Mobile US sent the shares of the USA wireless carriers surging Wednesday, as investors bet a deal may finally happen under the Trump administration's looser regulatory climate.
"T-Mobile is the most likely partner, but we will keep an open mind", Mr. Son said.
Sprint is the fourth largest wireless provider in the USA, having fallen behind T-Mobile in terms of subscriber base.
Son had considered a purchase of T-Mobile in the past, but that plan was scuttled when regulators with the U.S. Federal Communications Commission and Justice Department voiced their opposition to such a deal. However, with President Trump's administration now in office, Son is once again hopeful that he might be able to push through a deal. Now, during a press conference reported on by Reuters on May 10, the SoftBank boss has basically declared that he is looking to sell the struggling wireless phone company. Neither Sprint nor T-Mobile ever commented publicly about the rumors at the time. "And so that is why we want to be open if there are any other possibilities with better conditions and better opportunities for this industry consolidation".
Kevin Durant questions importance of National Basketball Association combine, tells players to skip it
Teams like the Cavs and Heat are also looking into him. "It was really just on me", Dozier said Thursday at the NBA Draft Combine. Of the 67 players invited to participate in the combine, many reports have at least five or six skipping part of the activities.
SoftBank Group Corp.is poised to propose to T-Mobile US Inc. that the American mobile carrier enter merger talks with its USA subsidiary Sprint Corp., sources close to the matter said Thursday.
This follows T-Mobile's recent announcement to work with partners to develop 5G technologies using T-Mobile's newly acquired 600 MHz spectrum, and marks the second major carrier to break from what had previously been mainstream talk of 5G operating in higher millimeter wave bands.
The plan came after SoftBank in 2014 gave up a bid to buy T-Mobile US and merge it with Sprint in the face of difficulties gaining approval from USA regulators who were concerned about consolidation of mobile carriers. The Motley Fool recommends T-Mobile US.
"I want to think big", he said.
"We are finalising the fund", Son said.