T-Mobile has retained Goldman Sachs to sell Boost Mobile if a potential deal with Dish Network to dispose of some wireless assets falls through, sources tell Reuters. Investment bank Goldman Sachs Group is advising T-Mobile on selling prepaid Boost Mobile as part of the company’s divestiture pledge to gain regulatory approval to acquire Sprint. T-Mobile is expected to send out material to potential buyers within two weeks, according to one source.
Dish remains the frontrunner to acquire the Boost assets and is also speaking with other parties about potential partnerships with Boost, according to the account.
Goldman told prospective buyers, it’s prepping for an upcoming auction of Boost, Reuters notes.
A different source, said the process is moving slowly because Goldman is not sure exactly what would be up for sale. Two potential bidders told Reuters, they’re unclear how the Boost wireless deal with T-Mobile would be structured. They also have no financial details about Boost customers, which bidders would use to determine the brand’s valuation.
T-Mobile agreed to negotiate a contract with Boost’s buyer that will allow the spun-off company to run on the combined T-Mobile and Sprint network, according to a regulatory filing that outlined the merger concessions. But the carriers are currently debating whether to provide the buyer an infrastructure-based mobile virtual network operator deal, Inside Towers reported.
T-Mobile and Sprint did not immediately respond to Reuters’ requests for comment, while Goldman Sachs declined comment.
June 21, 2019