Trump brokers $50B US deal with Softbank, T-mobile and Sprint merger may happen
By Charleston Lim
President-elect Donald Trump has been quite busy holding close door meetings with some of the top political and business leaders in the past few weeks, and it seems like there may be some progress in terms of his goals of adding new jobs and investments in the country. Earlier in the week, Trump had met with SoftBank Group Corp's chief executive, which apparently ended with the company agreeing to make a $50 billion investment in the United States and opening more than 50,000 jobs to Americans.
The meeting between Trump and SoftBank Chairman and Cheif Executive Officer, Masayoshi Son, was held at the Trump Tower in New York City this week, Tuesday. Reports have revealed that Son has actually already built an international investment fund for different businesses and that he has already accumulated around $70 billion.
Trump himself was quite proud of his brokering the deal as he even mentioned that the investment actually wouldn't have pushed through if he had not won the election. He expressed this through a series of tweets, which include the announcement of the $50 billion investment and the 50,000 new jobs that will result from it.
There is speculation that Son and his company may once again attempt yet another merger between Sprint and T-mobile this time. 80 percent of Sprint is owned by SoftBank. Son's company actually initiated a merger a few years back, but it was shot down by the Obama administration. With Trump in power, the merger may very well be approved this time around. The combination of two of the largest carriers in the United States would certainly prove to be quite a significant change in the U.S. wireless market. SoftBank has been making big investments around the world, with its latest acquisition being the buyout of ARM, the chip manufacturer and apple supplier, for $32 billion back in July.