SoftBank to cut stakes in T-Mobile

T-mobile

Just as the Japanese telecom and technology group announced that Alibaba’s Jack Ma has resigned from its board, there are reports that SoftBank Group Corp is in talks to sell “a significant portion” of its T-Mobile US stake.

According to a report by Wall Street Journal, Masayoshi Son’s SoftBank is looking at selling the T-Mobile equity to controlling shareholder Deutsche Telekom AG, the Wall Street Journal reported on Monday citing unidentified sources.

A deal would see Deutsche Telekom’s stake in the carrier, which merged with SoftBank’s wireless unit Sprint last month, rise above 50%, the newspaper reported.

SoftBank and Deutsche Telekom were not immediately available for comment.