T-Mobile US Inc (NASDAQ:TMUS, ETR:TM5) shares fell 4.5% on Tuesday morning after SoftBank Group Corp sold 21.5 million shares in the wireless carrier through a $4.9 billion overnight block trade, trimming its stake from 7.5% to 5.6%.
The unregistered sale, priced between $224 and $228 per share, represented a discount of about 3% to Monday’s closing price and marks the biggest US equity block sale since Toronto-Dominion Bank’s $13.1 billion divestiture of Charles Schwab in 2023.
The move is part of SoftBank’s broader strategy to raise capital for investments in artificial intelligence, according to Bloomberg News. The Japanese conglomerate, led by founder Masayoshi Son, has recently stepped up asset sales as it shifts its focus to AI-driven growth.
While the company has not signaled any intention to reduce its stake in chip designer Arm Holdings PLC (NASDAQ:ARM), the T-Mobile divestiture has reignited market speculation over future sales.