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SoftBank

SoftBank seeks to sell T-Mobile stake, paving exit from US telecoms

With focus on Vision Fund, full divestment would bring asset sale to $41bn target

SoftBank owns a 24% stake in T-Mobile, following the merger with group subsidiary Sprint.   © Reuters

TOKYO -- SoftBank Group has begun preparations to unload the bulk of its stake in U.S. mobile carrier T-Mobile as part of the Japanese tech conglomerate's 4.5 trillion yen ($41.9 billion) asset sale plan to fund share buybacks and debt reduction.

SoftBank owns about 300 million T-Mobile shares, or 24%, with a market value of around $31 billion based on Monday's closing price. The group is looking to raise $20 billion from the sale, U.S. news outlets report.

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