Deutsche Telekom accepts Softbank's offer to buy T-Mobile - Kyodo

Thu May 29, 2014 8:20am EDT

May 29 (Reuters) - Deutsche Telekom AG has agreed to a plan by Japanese mobile company Softbank Corp to buy T-Mobile US Inc, the fourth-largest U.S. mobile carrier, Kyodo news agency reported, citing industry sources.

Deutsche Telekom owns two-thirds of T-Mobile US. A spokesman for Deutsche Telekom declined to comment.

Softbank Chairman Masayoshi Son proposed the buyout in a meeting with top executives of T-Mobile and Deutsche Telekom in mid-May and received a positive response, Kydo reported. (Reporting by Sruthi Ramakrishnan in Bangalore and Peter Maushagen in Frankfurt; Editing by Saumyadeb Chakrabarty)