Sprint is reportedly preparing a bid to acquire T-Mobile U.S. and has already met with banks to make debt arrangements, reports Bloomberg.
Sprint Chief Financial Officer Joe Euteneuer and Treasurer Greg Block met with six banks to ensure the lenders would be ready with financing structures when Sprint decides to pursue a takeover, said three of the people, asking not to named because the discussions are private. Masayoshi Son, chief executive officer of SoftBank Corp. (9984), which owns about 80 percent of Sprint, is expected to make a formal bid in June or July, one of the people said.
Regulators have expressed concerns about the deal; however, Son and his team are building an argument that they hope will convince the FCC and DOJ to allow the acquisition.
How Sprint will pay for the deal is still being debated. The company would also have to take on the $8.7 billion in debt amassed by T-Mobile. Deutsche Telekom AG, who owns 67% of T-Mobile, reportedly wants as much cash as possible in the deal.
It's still unclear who would run the company; however, current T-Mobile CEO John Legere is said to be the learning candidate.
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