Sprint for sale? Japanese owner exploring options

Sprint Corp.’s primary owner may be looking to sell — or buy.

In the face or rumors about a potential merger, SoftBank CEO Masayoshi Son said he faced new options for Sprint going forward, whether through a merger, or as a standalone company.

“There are so many options available,” Son said in a translation of SoftBank Group Corp.’s Wednesday investor conference. “Now, we may sell, maybe simple merger, we may be dealing with T-Mobile, we may be dealing with a totally different company.”

Of late, Sprint executives have taken on a similar tune. CFO Tarek Robbiati said a consolidation among the smaller players “may be necessary to compete with the big two,” in the company’s most recent investor conference.

As the carrier continues its aggressive “turnaround” effort, Sprint posted $311 million in operating income during the company’s fiscal third quarter, an improvement from a loss of $197 million in the year-ago period. The carrier has slashed operating costs by $1.6 billion, and will continue to make cuts as it aims for a total reduction of $2 billion.

Read more: Kansas City Business Journal, Kansas City Star


Tags:, , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students