SoftBank seeks to raise US$4.9 billion in T-Mobile share sale

[NEW YORK] SoftBank Group is seeking to raise as much as US$4.9 billion in an unregistered overnight block sale of T-Mobile US shares, according to terms of the deal seen by Bloomberg News.

The Japanese technology giant is offering 21.5 million shares for US$224 to US$228 each, the terms show. The offering represents a discount of as much as 3 per cent to T-Mobile US’s on Monday (Jun 16) closing price of US$230.99 per share, according to Bloomberg calculations.

T-Mobile shares fell 2.9 per cent to US$224.24 each as of 5.56 pm on Monday in New York. They have climbed 4.7 per cent in the year to date to Monday’s close.

The stake offered would represent about 1.9 per cent of T-Mobile’s outstanding shares, according to Bloomberg calculations.

Bank of America is working on the deal, the terms show. BLOOMBERG