Japan’s SoftBank (TYO:9984) has raised $4.8 billion through the sale of 21.5 million T-Mobile (NASDAQ:TMUS) shares, pricing each at $224, according to a term sheet reviewed by Reuters. The offering was within the $224–$228 price range and reflects a roughly 3% discount from T-Mobile’s Monday closing price of $230.99.
Despite the sizable divestment, SoftBank remains T-Mobile’s second-largest shareholder, trailing only Deutsche Telekom (OTC:DTEGY), the U.S. wireless carrier’s top investor. Prior to the sale, SoftBank held a 7.52% stake, or 85.36 million shares, valued at approximately $22.76 billion based on data from LSEG.
The move aligns with SoftBank’s ongoing efforts to streamline its portfolio and unlock liquidity. The Japanese tech investment giant has been increasingly active in restructuring its holdings to focus on its core businesses and the growth of its Vision Fund.
This latest transaction follows an earlier development from late 2023, when SoftBank announced it would receive T-Mobile shares worth $7.59 billion at no additional cost. That deal was part of a prior agreement tied to the merger of Sprint, SoftBank’s former U.S. telecom unit, with T-Mobile.
Representatives for both SoftBank and T-Mobile declined to comment on the share sale when contacted by Reuters. Bloomberg News initially reported on the transaction.
The sale highlights continued interest in T-Mobile’s stock and reflects SoftBank’s strategic approach to managing its high-profile equity assets while maintaining a significant influence in the U.S. telecom market.


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