SoftBank raises US$4.8 billion from T-Mobile share sale, term sheet shows

CNA

3 days ago

SYDNEY: Japan's SoftBank raised US$4.8 billion from a sale of 21.5 million T-Mobile shares at US$224 each, according to a term sheet reviewed by Reuters.
The shares were offered in a price range of US$224 to US$228 each, the term sheet said. The final price was around a 3 per cent discount to T-Mobile's closing price on Monday of US$230.99.
SoftBank and T-Mobile did not immediately respond to requests for comment from Reuters.
SoftBank will remain T-Mobile's second largest shareholder after the stock sale, behind Deutsche Telekom which is the US company's biggest investor.
The Japanese firm owned 7.52 per cent of T-Mobile, or 85.36 million shares worth about US$22.76 billion, according to LSEG data, ahead of the block trade.
SoftBank said in late 2023 it would receive T-Mobile shares worth about US$7.59 billion at no additional cost after conditions set out in an agreement made as part of the merger of SoftBank's US telco Sprint and T-Mobile were met.