SoftBank agrees to Sprint deal at market value
New York
SOFTBANK Group Corp, the majority owner of Sprint Corp, is willing to accept a stock-for-stock merger with T-Mobile US that values Sprint at or near its current market price, according to people familiar with the matter.
While the two sides have not agreed on an exact value, SoftBank does not expect to receive much of a premium to Sprint's current share price and may accept a deal that values the fourth-ranked US wireless carrier at about its US$34 billion market capitalisation, said the sources, who asked not to be identified because the discussions are private.
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