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SoftBank CEO meets banks to get finance for T-Mobile bid: Bloomberg

Softbank Corp President Masayoshi Son speaks during a news conference in Tokyo July 30, 2013. REUTERS/Issei Kato
Softbank Corp President Masayoshi Son speaks during a news conference in Tokyo July 30, 2013. REUTERS/Issei Kato

(Reuters) - Japanese tech and telecoms group SoftBank Corp's Chief Executive Masayoshi Son held talks with at least five banks to finance a possible bid by Sprint Corp to buy a majority stake in T-Mobile US Inc in 2014, Bloomberg reported, citing sources.

Son met with executives of Credit Suisse Group AG, Mizuho Bank Ltd, Goldman Sachs Group Inc, Deutsche Bank AG and JPMorgan Chase & Co to get financing of about $20 billion, the report said. (http://r.reuters.com/fef65v)

Raine Group LLC was reported to be advising SoftBank for the bid that could see Sprint, the third-largest U.S. wireless carrier, merge with the fourth largest.

SoftBank owns 80 percent of Sprint. T-Mobile is majority owned by Deutsche Telekom AG.

Dish Network Corp, which lost out to Japanese telecoms giant SoftBank in its attempt to buy Sprint several months ago, was also considering making a bid for T-Mobile, Reuters reported on Wednesday, citing sources.

Sprint, T-Mobile and SoftBank could not be immediately reached for comment.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Maju Samuel)

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