Sprint Nextel Corp.’s Japanese parent company, SoftBank Corp., is reportedly close to acquiring rival T-Mobile from German communications company Deutsche Telekom in a deal that is expected to be worth more than $19 billion.
SoftBank is speaking to banks about borrowing funds for a deal, according to news reports.
Sprint has been interested in combining with T-Mobile for years and top executives from both companies have said that consolidation is needed in the U.S. wireless market to create a stronger rival against the biggest players, Verizon and AT&T.
A tie-up between Sprint and T-Mobile is expected to draw regulatory scrutiny, experts have said.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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