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T-Mobile Has Backup Number if Boost-Dish Deal Disintegrates

The Street logo The Street 6/20/2019 M. Corey Goldman
T-Mobile Has Backup Number if Boost-Dish Deal Disintegrates© TheStreet T-Mobile Has Backup Number if Boost-Dish Deal Disintegrates

Wireless giant T-Mobile US is working with its investment bankers on a backup plan if a deal to sell its wireless assets to Dish Network falls through.

Citing sources, Reuters reported that Goldman Sachs, which is advising T-Mobile on selling its Boost Mobile prepaid phone business, is preparing to send out sale info to other prospective buyers within the next two weeks as a backup plan against the T-Mobile-Dish Network sale falling through.

While satellite television provider Dish Network remains the front-runner to acquire the Boost assets, Goldman has been working on an alternate plan to ensure Boost gets sold off -- a requirement for T-Mobile to gain regulatory approval to buy rival Sprint .

T-Mobile and Sprint have agreed to a series of deal concessions, including T-Mobile's selling of Boost, to gain regulatory approval for the telecom giants' $26.5 billion mega merger.

Built to impress: The Coolpad (@coolpadamericas) Legacy features an immersive 6.36" FHD+ display packed into an impressive premium design 📐. Available online and at select #BoostMobile stores: https://t.co/T3NkTdVb80pic.twitter.com/YRfx2PXwTI

— Boost Mobile (@boostmobile) June 19, 2019

Bloomberg reported last week that Altice USA and Charter Communications are also on the shortlist of possible buyers for Boost.

U.S. antitrust officials have made clear their preference for a cable company to buy T-Mobile's assets in order to increase sector competition. The companies have received support for their tie-up from the Federal Communications Commission, though still need the green light from the U.S. Department of Justice.

So far, however, the DOJ has indicated that it may block the deal.

Shares of T-Mobile were up 0.86% at $78.95 in early trading on Thursday while Dish Network shares were up 2% at $40.

This article was originally published by TheStreet.

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