Softbank Group CEO hoping to revisit takeover of T-Mobile US under relaxed regulations (translated)
08 FEB 2017
Softbank Group Corp [TYO:9984] is hoping relaxed regulations under the new US administration allow it to take another stab at acquiring T-Mobile US [NYSE:PCS], the Fuji Sankei Business i reported.
The Japanese-language report cited Softbank CEO Masayoshi Son, who said on 8 February, in regard to expected changes to regulations in the US under President Trump and the possibility of making another attempt at acquiring T-Mobile US, that he will think flexibly about any structural changes. Son emphasized that having SprintCorp [NYSE:S] bounce back and operating on its own power is one admirable option. However, he noted, through an alliance new business value can be generated. He added that he will keep his mind open to consider various possibilities.
In 2013, Softbank acquired US-based wireless telecommunications company Sprint Corp. Plans to also acquire T-Mobile US and merge the two companies were thwarted by the Federal Communications Commission, which would not approve the deal, the report said. Tom Wheeler, who headed the FCC under President Obama, was replaced under President Trump by Ajit Pai, who believes that deregulation fosters market competition, the report said.
T-Mobile US has a market capitalization of USD 9.5bn.
The original article appeared in print ; pg. 1.