Pacific Money

SoftBank Readies $20 Billion for T-Mobile Purchase

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Pacific Money

SoftBank Readies $20 Billion for T-Mobile Purchase

Japanese telecom giant would become the world’s second most profitable carrier.

SoftBank, one of Japan’s largest mobile carriers and the first to adopt Apple’s iPhone, is preparing to acquire a second American mobile phone carrier. If successful, the purchase of T-Mobile would make SoftBank the world’s second largest mobile carrier.

Masayoshi Son, SoftBank’s billionaire founder and the third-richest person in Japan, approached six banks over the weekend to discuss financing a T-Mobile bid. Bloomberg sources claim that the institutions that were approached – Credit Suisse Group AG, Mizuho Bank Ltd., Goldman Sachs Group Inc., Deutsche Bank AG, JPMorgan Chase & Co., and Raine Group LLC – are the same ones that financed and advised SoftBank’s purchase of Sprint last July.

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