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Sprint may have competition in bidding for T-Mobile

July 22, 2014

With rumors of Sprint and T-Mobile finalizing a deal that would merge the two companies, rumors are now being revealed which hint at Mexican billionaire Carlos Slim being interested in purchasing T-Mobile.

According to the Wall Street Journal, Slim recently received cash from his sale of shares of América Móvil and currently owns an interest TracFone, a US prepaid wireless service that is the country’s fifth largest carrier. TracFone currently leases capacity in large cellular networks operators like AT&T and Sprint.

Last week, America Movil announced that it was going to slash its market share in Mexico from 70% to 50% to avoid sanctions from the Mexican government.

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Money is not likely going to be a factor for Slim as he recently was named the richest person in the world with a fortune of $79.6 billion. As the Wall Street Journal mentions, Slim has been active in the U.S. with purchased stakes in Saks Inc., OfficeMax Inc. and the New York Times.

Unfortunately for Slim, if the talks between Sprint and T-Mobile are in fact close to being finished, it is unlikely that Slim could make a legitimate run at T-Mobile.