News > SoftBank gets $7.6 bn T-Mobile stake windfall, shares soar
SoftBank gets $7.6 bn T-Mobile stake windfall, shares soar
ET Telecom | 27/12/2023 06:37 PM | Click to read full article
Shares in SoftBank Group Corp jumped 5% after the Japanese tech conglomerate said it would receive shares in telco T-Mobile US worth some $7.59 billion at no additional cost. Masayoshi Son's conglomerate said late on Tuesday it had told T-Mobile US to issue 48.75 million shares in common stock to it after conditions set out in an agreement made as part of the merger of SoftBank's USĀ telco Sprint and T-Mobile were met.