Sprint secures $40 billion to finance T-Mobile purchase

Sprint has lined up $40 billion in financing to pay for T-Mobile purchase that still needs regulatory approval to happen.

@ShaneMcGlaun
Published Fri, Jun 20 2014 7:02 AM CDT   |   Updated Tue, Nov 3 2020 12:16 PM CST

After AT&T was unable to get the regulatory approval needed to purchase T-Mobile a few years back and loosing big money in the process, the odds of Sprint being able to seal the deal seem slight. That isn't stopping T-Mobile and Sprint from moving forward with their plans to merge.

Sprint secures $40 billion to finance T-Mobile purchase | TweakTown.com

Sprint has reportedly secured $40 billion in funding to purchase T-Mobile resulting in the third and fourth largest networks in the country becoming one. Sprint reportedly had talks with eight banks to secure the money needed for the deal. Sprint also had to get funding of around $20 billion from Japanese bank SoftBank and another $20 billion to refinance existing T-Mobile debt.

The total buyout is expected to be worth $50 billion and if completed will gain shareholders in T-Mobile about $40 per share. Sprint and T-Mobile hope that after merger the two carriers, who are both losing money now, will be able to take on Verizon and AT&T in the mobile market.

NEWS SOURCE:zdnet.com

Shane is a long time technology writer who has been writing full time for over a decade. Shane will cover all sorts of news for TweakTown including tech and other topics. When not writing about all things geeky, he can be found at the track teaching noobs how to race cars.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles