Japanese company in talks to buy T-Mobile

Japan’s SoftBank is in talks to acquire American wireless carrier T-Mobile US and is discussing funding with financial institutions, sources close to the matter said on Wednesday.

SoftBank is seeking for its Sprint unit to take a majority stake in T-Mobile in the financial year starting in April. SoftBank bought Sprint for $21.6 billion this summer, according to the New York Times.

The deal would reportedly be valued at $20 billion, and would help Tokyo-based SoftBank become the world's No. 2 mobile carrier by revenue.

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