A woman uses her mobile phone as she walks past the logo of Japan’s telecommunications giant SoftBank in Tokyo on December 25, 2013.
Toru Yamanaka | Afp | Getty Images
Japan’s SoftBank raised $4.8 billion from a sale of 21.5 million T-Mobile shares at $224 each, according to a term sheet reviewed by Reuters.
The shares were offered in a price range of $224 to $228 each, the term sheet said. The final price was around a 3% discount to T-Mobile’s closing price on Monday of $230.99.
SoftBank and T-Mobile did not immediately respond to requests for comment from Reuters.
SoftBank will remain T-Mobile’s second largest shareholder after the stock sale, behind Deutsche Telekom which is the U.S. company’s biggest investor.
The Japanese firm owned 7.52% of T-Mobile, or 85.36 million shares worth about $22.76 billion, according to LSEG data, ahead of the block trade.
SoftBank said in late 2023 it would receive T-Mobile shares worth about $7.59 billion at no additional cost after conditions set out in an agreement made as part of the merger of SoftBank’s U.S. telco Sprint and T-Mobile were met.
Bloomberg News reported the share sale earlier.