Japan's SoftBank Group Corp (9984.T), opens new tab is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile (TMUS.O), opens new tab shares, Bloomberg News reported on Monday. SoftBank is offering to sell 21.5 million shares for $224 to $228 each, Bloomberg said, citing the deal terms. Bank of America Corp is working on the deal. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. The sale represents a discount of more than 3% to T-Mobile's closing price of $230.99 on Monday, and the stake offered would represent about 1.9% of T-Mobile's outstanding shares, Reuters calculations showed. Advertisement · Scroll to continue
Report This Ad SoftBank and T-Mobile did not immediately respond to Reuters' requests for comment. In May, the Japanese technology investment group reported a 1.15 trillion yen ($7.94 billion) profit for the year ended March, compared with a loss of 227.6 billion yen a year earlier. SoftBank's approach of investing in high-growth technology companies is epitomized by the success of its investment in Chinese e-commerce leader Alibaba Group (9988.HK), opens new tab as well as the bankruptcy of U.S. office-space startup WeWork.
