SoftBank confirms it might sell part of its stake in T-Mobile
SoftBank confirmed on Tuesday that it is considering selling part of its stake in T-Mobile.
SoftBank Group owns about 25% of T-Mobile's US shares and in the announcement it said it is exploring transactions that could include private placements or public offerings and transactions with T-Mobile or its shareholders.
It is still unclear whether the sale will finally take place.
The news comes a month after Bloomberg reported that SoftBank was close to securing an agreement to sell around $20.0bn worth of T-Mobile US shares to investors.
Interested parties included Deutsche Telekom, the controlling shareholder of T-Mobile.
According to TechCrunch, the sale is part of the company’s program announced in March to sell or monetize up to $41bn in assets to reduce debt and increase cash reserves.