Citing sources, Reuters reported that Goldman Sachs, which is advising T-Mobile on selling its Boost Mobile prepaid phone business, is preparing to send out sale info to other prospective buyers within the next two weeks as a backup plan against the T-Mobile-Dish Network sale falling through.
While satellite television provider Dish Network remains the front-runner to acquire the Boost assets, Goldman has been working on an alternate plan to ensure Boost gets sold off -- a requirement for T-Mobile to gain regulatory approval to buy rival Sprint (S - Get Report) .
T-Mobile and Sprint have agreed to a series of deal concessions, including T-Mobile's selling of Boost, to gain regulatory approval for the telecom giants' $26.5 billion mega merger.
Built to impress: The Coolpad (@coolpadamericas) Legacy features an immersive 6.36" FHD+ display packed into an impressive premium design ��. Available online and at select #BoostMobile stores: https://t.co/T3NkTdVb80 pic.twitter.com/YRfx2PXwTI— Boost Mobile (@boostmobile) June 19, 2019
U.S. antitrust officials have made clear their preference for a cable company to buy T-Mobile's assets in order to increase sector competition. The companies have received support for their tie-up from the Federal Communications Commission, though still need the green light from the U.S. Department of Justice.
So far, however, the DOJ has indicated that it may block the deal.
Shares of T-Mobile were up 0.86% at $78.95 in early trading on Thursday while Dish Network shares were up 2% at $40.