Many Options on Table for Sprint, Wells Fargo Says
SoftBank is exploring many options for subsidiary Sprint, said Wells Fargo analyst Jennifer Fritzsche Wednesday in a research note. She cited SoftBank Chairman Masa Son’s comments that day in a financial results presentation, in which Son said the company’s many…
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options include buying or selling with T-Mobile or a different company. The comments prompted some to ask if Sprint is a seller, Fritsche said. “We don't know the answer but it is hard for us to see Softbank taking a minority position in a combined entity given the momentum in Sprint is only just being seen, in our view (even in a period of limited capital spending),” the analyst wrote. “In any negotiations, Sprint would be in a position of strength given the significant spectrum asset value to any potential combination.” Last week, Sprint Chief Financial Officer Tarek Robbiati said the carrier may need a transaction to get the size to compete with AT&T and Verizon (see 1701310046).