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SoftBank To Sell T-Mobile Shares At $103 Apiece

SoftBank on Monday unveiled a series of transactions to divest more than $21 billion worth of stock in T-Mobile, as it seeks funding for a $41 billion share buyback and debt reduction plan.

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SoftBank Group Corp is set to sell a portion of its stake in U.S. wireless carrier T-Mobile US Inc  at $103 per share to raise $13.76 billion, a person familiar with the matter said on Tuesday.

SoftBank on Monday unveiled a series of transactions to divest more than $21 billion worth of stock in T-Mobile, as it seeks funding for a $41 billion share buyback and debt reduction plan. This included a public offering of 133.5 million shares.

SoftBank declined to comment. T-Mobile shares closed on Tuesday at $107.16.

(Reuters)


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