Correction to Sprint Has Engaged Warren Buffett Story

By Ryan Knutson and Shalini Ramachandran Features Dow Jones Newswires

Sprint Corp. Chairman Masayoshi Son has engaged Warren Buffett and cable mogul John Malone in discussions about participating in a deal with the wireless company, people familiar with the situation say.

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The Japanese billionaire met separately with the Berkshire Hathaway Inc. boss and Mr. Malone, whose Liberty Broadband Corp. is one of Charter Communications Inc.'s biggest investors, this week at an annual gathering of CEOs in Sun Valley, Idaho, the people said.

The contours of the deal the parties are discussing are unclear. The talks are at an early stage and may not result in an agreement, the people said, but one possibility would see Berkshire put more than $10 billion into a transaction.

Mr. Son, who controls more than 80% of Sprint, has been exploring a merger or stake sale to help the money-losing company compete with its bigger rivals. In recent months, Sprint has also held merger talks with rival T-Mobile US Inc. and discussed a reseller agreement with cable providers, people familiar with the matter have said.

Dana Mattioli and Nicole Friedman contributed to this article

Write to Ryan Knutson at ryan.knutson@wsj.com and Shalini Ramachandran at shalini.ramachandran@wsj.com

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Corrections & Amplifications

This item was corrected at 2:49 p.m. ET. The original misstated Charter Communications Inc. as Charter Communications Corp.

The Japanese billionaire met separately with the Berkshire Hathaway Inc. boss and Mr. Malone, whose Liberty Broadband Corp. is Charter Communications Inc.'s biggest investor. "Sprint's Chairman Has Engaged Warren Buffett About Investment -- Update," published at 2:44 p.m. ET, incorrectly stated the name of Charter Communications Inc. as Charter Communications Corp. The error also appeared in an earlier version of the story published at 2:15 p.m. ET.

(END) Dow Jones Newswires

July 14, 2017 15:02 ET (19:02 GMT)