Amazon wants to buy Boost Mobile from Sprint, T-Mobile: report
Amazon, which has dipped its hand in the cellphone business before, is reportedly interested in purchasing prepaid cellphone service Boost Mobile from T-Mobile and Sprint.
A source told Reuters that the online retail giant is considering buying Boost Mobile because the deal would allow the company to use T-Mobile’s network for at least six years. Boost Mobile is one of Sprint’s prepaid brands.
“Amazon would also be interested in any wireless spectrum that could be divested,” Reuters reported, citing a source.
It was not immediately clear why Amazon was interested in acquiring the “wireless network and spectrum.”
Fox Business’ requests for comment from Sprint and T-Mobile were not immediately answered. Amazon told Fox Business that the company does not "comment on rumors or speculation."
Reuters reported the sale of Boost Mobile could go up to $3 billion. The company has between 7 to 8 million customers, analysts said.
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The online retail giant’s Echo Connect gadget allows users to make phone calls through the device. In 2014, Amazon launched the Fire phone but sales flopped due to the device not having access to popular apps such as Google Maps.
T-Mobile and Sprint are currently in the middle of a $26 billion merger. The companies’ boards announced last year that the deal was approved. If okayed by the U.S. Justice Department, the country would instead have three major mobile carriers versus four.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 182.50 | +2.65 | +1.47% |
| S | SENTINELONE INC | 23.04 | -0.07 | -0.30% |
| TMUS | T-MOBILE US INC. | 175.53 | +0.39 | +0.22% |
