Back in July 2013, the battle between SoftBank and Dish Network over Sprint was won by SoftBank as the latter paid $21.6 billion for 78% of the company. Over time, SoftBank hiked its stake to 80% of Sprint and when T-Mobile closed on its purchase of Sprint on April 1st, SoftBank ended up with 304.6 million shares of T-Mobile.

SoftBank sells as many as 198 million T-Mobile shares

As part of the transaction, former Sprint CEO Marcelo Claure will purchase 5 million T-Mobile shares in a stock purchase that Claure will fund via a loan provided by SoftBank. Interestingly, Claure happens to be the current CEO of SoftBank Group International and is also a director on T-Mobile’s board. Not adding to its holdings in T-Mobile is Germany’s Deutsche Telekom. The latter owns a 43% stake in T-Mobile and some analysts expected it to add the additional 7% that would put it near the 50% mark. Instead, Deutsche Telekom has two options to purchase 101.5 million T-Mobile shares. If it exercises all of the options it has, the German telecom giant would own 51.8% of T-Mobile. Both options expire on June 22nd, 2024.

A week from today, on July 1st, Dish Network will close on its purchase of Boost Mobile and 14MHz of 800MHz spectrum for $6 billion. Dish will then sign a seven-year MVNO agreement with T-Mobile that will allow it to offer wireless service while it builds a standalone 5G wireless network. The goal is to make Boost the nation’s new fourth-largest wireless carrier replacing Sprint which was swallowed up by T-Mobile. The Justice Department was concerned that reducing the number of major carriers by 25% would lead to higher prices for consumers.

The complex financial dealings happen to mark the end of the T-Mobile career of long time Chief Financial Officer Braxton Carter. The latter first became T-Mobile’s CFO back in 2005.