I don't even know where to start. Price is immaterial at this point. You can own 99 percent of all the shares in a company and if those shares are nonvoting you have no say in how the company runs. As I have been saying forever the issue was never about price it was about the shares being voting or nonvoting. The Reuters article confirms that was and remains the issue. What has changed is that there are several clocks are now ticking and time is not on Tmobile's side. This is why talks are occurring again. Either Son believes he now has a better advantage or Tmobile realizes that they don't have the spectrum or the physical network to really make a run of 5G.
Remember only Sprint is talking about a mobile 5G network. The other 3 are talking about hotspots and Fixed wireless 5G. The public in general doesn't understand this. This also realigns the market. For 5G At&t and Verizon will be competing in the marketplace with wireline operators. Notice that as those two have been selling off wireline assets, they have been selling them to companies like Frontier, who couldn't ever compete with fixed wireless 5G. Tmobile would also be entering this same market and they are missing one huge advantage all three of the others have. Tier one internet backbones. They also don't have the spectrum to build a 5G mobile network.
Stop and think about the position that leaves Tmobile in. Reliant on one side on the same companies they are competing against. And unable to provide actual 5G speeds in the mobile market.
They would have to be stoned or stupid not to give Son the one thing he asked for. Voting rights.
So is price the issue? No. It is an all stock deal and it doesn't matter what exchange price is set if the stock awarded is nonvoting. He would have to have faith in the germans to run the company properly or say goodbye to all of the money spent into Sprint.
Didn't Sprint use a small part of their spectrum licenses for a leaseback deal? I believe the last reports had 14% of their spectrum being leased back to them, but that number could have grown since then due to Sprint's desire to raise money.
I'm don't know if this impacted Softbank's negotiating leverage, but I'm sure it was brought up.