Softbank Owns 7.64% of T-Mobile
Posted on 12/26/2023
A new SEC filing reveals that Softbank has a significant stake in mobile phone carrier T-Mobile. The stock has been roaring higher, and now trades at US$ 156. It traded for US$ 75 in 2020. T-Mobile is headquartered in a suburb of Seattle, Washington. Its largest shareholder is multinational telecommunications company Deutsche Telekom AG. T-Mobile is the third-largest wireless carrier in the United States, with 117.9 million subscribers at the end of Q3 2023.
T-Mobile is an established major company in the mobile business. Softbank could use a winner after a disastrous few years. Even before the bankruptcy of WeWork, Masayoshi Son’s reputation took a hit. Mr. Son’s Vision Fund run out of Softbank has invested in some disastrous concepts, such as Zume pizza. Zume hoped to fully automate the process of purchasing pizza and use predictive technology for orders. SoftBank bought into Zume to the tune of US$ 375 million. It was thought to be worth US$ 2.25 billion at one time. Other venture capital backers included Maveron, FJ Labs, AME Cloud Ventures, and SignalFire. Unfortunately the company went out of business after burning US$ 445 million. Recently, the listing of Arm Holdings failed to bring the group to profit. Softbank also paid over US$ 1 billion to creditors days before WeWork went under.
The T-Mobile filing can be found here: https://www.sec.gov/Archives/edgar/data/1283699/000119312523302486/d683664dsc13da.htm
