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>> Is this back to the future for telecom mergers? SoftBank certainly think so. I'm Leanna Baker with Reuters in New York, and sources are telling me that SoftBank, which owns Sprint in the US, is preparing to make an approach to T-mobile, its rival telecom company. But this mergers gonna look a little different than the one they tried two and a half years ago, which never happened due to regulatory problems.
In this deal, we're hearing that SoftBank could take a minority stake in a combined Sprint and T-Mobile merger. When SoftBank first bought Sprint a few years ago, it wanted to take on the duopoly of Verizon and AT&T. But it hasn't been able to do that because Sprint and T-Mobile are so much smaller than AT&T and Verizon which have really deep pockets.
Investors are expecting the telecom industry to really change in the next few years. There’s something called 5G which is coming, which should make our phones 10 times to 100 times faster. Not every company could compete to spend enough to modernize their networks, so T-Mobile and Sprint, by pairing up, will have a better chance to take on Verizon and AT&T.
Masayoshi Son, the SoftBank CEO, met with Trump to discuss creating jobs in the US. Some people think that could bode well for this merger to be approved, which has seen pushback before in Washington.