According to an invitation sent by e-mail on Tuesday, Masayoshi Son, Chief Executive Officer of SoftBank Corp., is going to host a presentation to discuss “the state of Americas wireless communications industry and the competitive global landscape”. The presentation will take place in Washington on March 11th.
SoftBank Corp. rose by 0.65% in Tokyo to settle todays session at 7 474 yen, raising the companys market value to 8.97 trillion yen. Sprint Corp closed at $8.83 on Monday in New York, up 1.03% on the day, while T-Mobile US Inc was unchanged at $30.50, marking a one-year change of +128.56% and market capitalization of $24.47 billion.
The Chief Executive Officer of SoftBank purchased Sprint Corp. in 2013 and is also allegedly considering to purchase T-Mobile US Inc. As reported by the Wall Street Journal, the antitrust officials in the U.S. have opposed both in private and in public the acquisition of T-Mobile US Inc. by Sprint Corp. According to a person with knowledge of the matter, Mr. Son, however, is making plans of appealing directly to the business community and policy makers in the U.S. And is putting efforts into convincing them that the consolidation of the telecommunications industry in the U.S. is absolutely necessary.
As reported by Bloomberg, Mr. Masayoshi Son said in February that Sprint was able to offer “aggressive discounts and services”. He also added: “Without industry consolidation, for Sprint alone to become No. 1 in the U.S. is literally just a dream.”
There also was a meeting between the regulators, Mr. Son and the Chief Executive Officer of Sprint – Mr. Fan Hesse, which was led in Washington and was focused on discussing the eventual purchase of T-Mobile. Now a presentation is being planned by Masayoshi Son to the Chamber of Commerce on March 11 about the wireless industrys condition, as well as on global competition and the role of the ultra-fast wireless broadband in driving innovation.
Neither Sprint, nor T-Mobile were mentioned in the invitation of SoftBank, which is said by Bloomberg to be on “the promise of mobile Internet in driving American innovation, the economy and education”. Mr. Son is said to be focusing on “the crucial role of ultra fast wireless broadband communications in driving innovation, commerce and education – in the U.S. and around the globe”.
Mr. Son has always been critical towards Verizon Wireless and AT&T Inc, which are currently considered as leaders on the U.S. market. He commented for the Wall Street Journal: “Every time I make a business trip to the U.S., I am reminded how terrible connections are there. The U.S. has one of the worlds highest mobile fees.”
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