Japan's SoftBank plans to acquire T-Mobile US through its subsidiary Sprint in a move that would create the world's second largest mobile carrier by revenue after China Mobile, a report said Wednesday.
SoftBank intends to buy a majority stake in fourth-ranked US wireless carrier T-Mobile in early 2014 in a transaction with an estimated price tag of more than 2 trillion yen ($19 billion), the Nikkei business daily said.
It is in the final stages of talks with T-Mobile's parent, Deutsche Telekom of Germany, the economic daily quoted anonymous sources close to the matter as saying.
SoftBank declined to comment on the report. Shares in the firm fell 0.56 percent to 8,760 yen in Tokyo morning trade.
The purchase would boost the SoftBank group's annual revenue from mobile operations to $69.4 billion, making it the world's No. 2 carrier behind China Mobile with $90.4 billion, the Nikkei said citing, industry figures.
Source: NewsOnJapan
