SoftBank plans to sell 3.9% stake in T-Mobile US for $2.3 billion

By **Anirban Sen** and **Greg Roumeliotis**<br><br>SoftBank Corp (9434.T) plans to sell a 3.9% stake in T-Mobile US Inc (TMUS.O) for $2.3 billion as part of a strategic review aimed at closing a valuation gap with its market price, it said on Friday.<br><br>The sale comes after **Bloomberg reported that SoftBank Corp had been exploring the sale of its entire T-Mobile stake worth about $30 billion to reduce debt, as well as a potential separation** of its chip designer Arm from the telecoms operations.<br><br> **SoftBank Corp owns about 48.8% of T-Mobile US**, which is a **directly listed subsidiary**. This **stake was previously valued at $70 billion**, with the remaining $43 billion in the company's valuation attributed to Arm.<br><br>The Japanese conglomerate said it would continue to "retain strategic interest and control in T-Mobile US, Inc.," but said it plans to "retain flexibility to consider future transactions in T-Mobile US, Inc. common stock."<br><br>The sale is expected to be completed by June next year, the company said.<br><br> **SoftBank Corp said a preparing for an Arm IPO could take at least 12-18 months**, and that it did not have a specific timeline in place.<br><br>The Japanese conglomerate is considering listing Arm in New York or London, and plans to retain a majority stake in the firm.<br><br>SoftBank Corp shares have been trading at about 60% discount to their net asset value, prompting calls from investors for a sale of its T-Mobile US stake and a separation of Arm.