T-Mobile US, Sprint May Sell Boost for Up to $3B

T-Mobile US (TMUS) and Sprint (S) may sell Boost Mobile for up to $3 billion, according to Reuters.

The report said a group of potential buyers are preparing bids for Boost for up to that value.

To receive FCC approval for their merger, the companies had to offer concessions, including the sale of Boost to reduce the combined company’s market share in the prepaid wireless business. The deal is still awaiting DOJ approval but interested parties are already preparing bids for the sale, which would begin after the DOJ review, the story said.

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Q Link Wireless is putting together a package to bid for Boost with private equity backing and could pay between $1.8 billion to $3 billion, depending on the quality of the customers, founder and Chief Executive Issa Asad told Reuters.

Stephen Stokols, chief executive officer of prepaid wireless company FreedomPop, said an undisclosed private equity group he is speaking with have placed Boost’s future value at about $4 billion, such as in an initial public offering. FreedomPop is not bidding but he is advising a private equity group preparing a bid, Reuters said.

Peter Adderton, founder of Boost Mobile, also is interested, Reuters said.