SoftBank to sell T-Mobile shares at $103 apiece to raise $13.76b

Shoppers walk through the lobby of a T-Mobile US Inc. store in Chicago, Illinois, U.S., on Friday, Oct. 21, 2016. T-Mobile US Inc. is scheduled to release earnings figures on October 24. Photographer: Daniel Acker/Bloomberg

SoftBank Group Corp is set to sell a portion of its stake in U.S. wireless carrier T-Mobile US Inc at $103 per share to raise $13.76 billion, a person familiar with the matter said on Tuesday.

SoftBank on Monday unveiled a series of transactions to divest more than $21 billion worth of stock in T-Mobile, as it seeks funding for a $41 billion share buyback and debt reduction plan. This included a public offering of 133.5 million shares.

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