Softbank has not given up on T-Mobile acquisition
Softbank Corp. [TYO: 9984] has not given up on acquiring T-Mobile US Inc. [NYSE: TMUS], after the company suspended talks with the US' third-largest operator of wireless telecommunication services, Japanese newspapers reported.
Softbank still believes that a triangular battle is better than the dominance by two biggest players to secure a healthy competition in the US telecommunication market, the Nihon Keizai Shimbun and Yomiuri Shimbun reported, citing President Masayoshi Son.
The company, Japan’s third-largest telecommunication service provider, and its US unit, Sprint [NYSE: S], ended talks with T-Mobile earlier this week on a plan to acquire the US company, Japanese newspapers had reported. In a press conference on 8 August announcing the first quarter earnings, Son declined to make an official comment on those reports about scrapping the acquisition plan, the Nihon Keizai report said today.
For other M&A opportunities outside the US, the company is always looking for a good opportunity, the president was cited in the newspaper report.
Source Nihon Keizai Shimbun, Yomiuri Shimbun