SoftBank Gets Closer To Buying T-Mobile: Report

(Reuters) - Japan-based SoftBank Corp (TYO:9984) is in final stages of talks with T-Mobile (TMUS.N)parent company Deutsche Telekom (DTE.DE)about acquiring the U.S.-based wireless carrier, the Nikkei news service reported on Tuesday, citing anonymous sources.

SoftBank, which purchased 80 percent of Sprint (NYS:S) earlier this year, wants to pay for T-Mobile using shares of Sprint as early as next spring in a deal worth more than $19 billion, the report said. SoftBank aims to have Sprint buy the majority of T-Mobile shares.

SoftBank has thought about a stock swap but now may have added a tender offer and other kinds of deals to its list of options, Nikkei reported. Deutsche Telekom prefers a cash deal, the story said.

SoftBank is speaking to banks about borrowing funds for a deal, according to news reports.

Sprint has been interested in combining with T-Mobile for years and top executives from both companies have said that consolidation is needed in the U.S. wireless market to create a stronger rival against the biggest players, Verizon and AT&T.

A tie-up between Sprint and T-Mobile is expected to draw regulatory scrutiny, experts have said. Shares of T-Mobile rose 21 cents or 0.7 percent to $32.06 per share.

(Reporting by Liana B. Baker; Editing by David Gregorio)