Sprint is reportedly working behind the scenes to acquire competitor T-Mobile. Controversial T-Mobile CEO John Legere is believed to be the top candidate to run the new company if and when a deal is made.
According to people familiar with the matter, Sprint CFO Joe Euteneuer and Treasurer Greg Block recently met with banks to secure the capital and financing plans needed for the T-Mobile buyout, reports Bloomberg.
SoftBank, which owns an 80% stake in Sprint, is reportedly prepping an official bid for June or July, the figures for that alleged deal are not known. Deutsche Telekom owns 67% of T-Mobile, and is reportedly interested in a mostly-cash deal, sources said.
Although the deal is far from final, both sides are already said to be thinking about who will lead the merged firms if and when the buyout occurs. Outspoken T-Mobile CEO John Legere is said to be one of the top choices. Legere is perhaps the most well-known CEO of all the major U.S. carriers, via his strong and outspoken social media presence. .
News that Sprint was considering a purchase of T-Mobile first came to light in December 2013. If the sale goes through, it would merge the third and fourth largest U.S. telecoms together, creating a company that can truly rival the top two, AT&T and Verizon.
At this time, it’s not known how the Federal Communications Commission would react to a Sprint/T-Mobile marriage, THe body shot down a 2011 deal that would have seen AT&T acquire T-Mobile.
