For months, rumors have circulated about Sprint’s desire to own T-Mobile.
But now there may be a new entrant in the bidding battle for the fourth largest carrier in the U.S.
Mexican billionaire Carlos Slim, who is selling shares of América Móvil, may use some of his new-found cash to make a run at T-Mobile, reports The Wall Street Journal. Slim already has interests in the U.S. wireless business through TracFone, a prepaid wireless service that is the country’s fifth largest carrier.
Stock analyst John Hodulik tells the Journal that an acquisition of T-Mobile — led by the charismatic and foul-mouthed John Legere — could make strategic sense given the windfall of cash that Slim is about to obtain.
But don’t get too excited about a deal. The Journal calls any tie-up between the two companies a longshot given how advanced the discussions are between Sprint and T-Mobile, a deal that could fetch $32 billion and result in Legere serving as CEO.
Just last week, Slim regained the title of richest person in the world with a fortune of $79.6 billion, eclipsing the estimated net worth of $79.1 billion of Bill Gates.
América Móvil holds a 70 percent market share of the wireless business in Mexico, and regulators in the country are forcing the company to divest assets in order to allow more competition.