Sprint Executives Have Engaged Warren Buffett About Investment
July 14 2017 - 2:35PM
Dow Jones News
By Ryan Knutson and Shalini Ramachandran
Sprint Corp. Chairman Masayoshi Son has engaged Warren Buffett
and cable mogul John Malone in discussions about participating in a
deal with the wireless company, people familiar with the situation
say.
The Japanese billionaire met separately with the Berkshire
Hathaway Inc. boss and Mr. Malone, whose Liberty Broadband Corp. is
one of Charter Communications Corp.'s biggest investors, this week
at an annual gathering of CEOs in Sun Valley, Idaho, the people
said.
The contours of the deal the parties are discussing are unclear.
The talks are at an early stage and may not result in an agreement,
the people said, but one possibility would see Berkshire put more
than $10 billion into a transaction.
Mr. Son, who controls more than 80% of Sprint, has been
exploring a merger or stake sale to help the money-losing company
compete with its bigger rivals. In recent months, Sprint has also
held merger talks with rival T-Mobile US Inc. and discussed a
reseller agreement with cable providers, people familiar with the
matter have said.
Dana Mattioli and Nicole Friedman contributed to this
article
Write to Ryan Knutson at ryan.knutson@wsj.com and Shalini
Ramachandran at shalini.ramachandran@wsj.com
(END) Dow Jones Newswires
July 14, 2017 14:20 ET (18:20 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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