A week after Sprint’s lead investor said he wants to buy T-Mobile, reports are surfacing that the deal’s nearly done.
Bloomberg is reporting that the parties are close to a deal that would pay $40 per share for Bellevue-based T-Mobile US, with Sprint offering half in cash and half in stock and Deutsche Telekom retaining a 15 percent stake.
The Wall Street Journal followed up with a report also saying that Sprint would pay around $40 per share – making it a roughly $32 billion merger – and the deal could be made in early summer.
T-Mobile’s stock closed today at $34.28 before the news broke.
Sprint will have to overcome resistance of federal regulators who earlier spiked AT&T’s 2011 attempt to buy T-Mobile for $39 billion.
Speaking at a conference in California last week, Sprint’s majority owner Masayoshi Son reiterated his interest in buying T-Mobile and said Sprint and T-Mobile must scale up to compete with AT&T and Verizon.