Dealmaking tradition alive at Sun Valley

  • July 15, 2017
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The annual gathering of technology, media, sport and industry titans from around the world at Sun Valley, Idaho, organised by Allen & Co each year, has become synonymous with dealmaking.

The high profile corporate speculation to emerge this year included a report that US mobile group Sprint had talks with Warren Buffett and Liberty Group about a deal.

All three parties were at Sun Valley, where Sprint chairman Masayoshi Son, Sprint chief executive Marcelo Claure, Mr Buffett and Liberty Media chief executive Greg Maffei were all photographed.

Shares in Sprint jumped as much as 4.5 per cent to a one-month high of $8.57 on the report, in the Wall Street Journal. Mr Son, the billionaire founder of the Japanese internet and telecoms group SoftBank, which controls Sprint, said in May that his “top choice” was to merge the business with rival T-Mobile USA, owned by Deutsche Telekom. T-Mobile, however, does not seem as desperate to find a merger partner. Last month, it was reported that Sprint was in talks with cable companies Comcast and Charter Communications, the latter owned by Mr Malone.

Political wattage was added to the 2017 Allen & Co event by the midweek arrival from the White House of Ivanka Trump and Jared Kushner. Industry heavyweights included General Motors chief executive Mary Barra.

Marcelo Claure, chief executive officer of Sprint Corp., left, and billionaire Masayoshi Son, chairman and chief executive officer of SoftBank Group © Bloomberg

Sprint chief executive Marcelo Claure and chairman Masayoshi Son, the founder of SoftBank, which controls Sprint

Greg Maffei, chief executive of Liberty Media © Bloomberg

Liberty Media chief executive, Greg Maffei

Ivanka Trump, assistant to President Donald Trump and his daughter, left, and Warren Buffett, chairman and chief executive officer of Berkshire Hathaway, right © Getty

Warren Buffett, right, passing by Ivanka Trump, left

© Getty

Harvey Weinstein, co-founder of The Weinstein Company, Tim Armstrong, chief executive of AOL, and Michael Dell, founder and chief executive of Dell Technologies

© Bloomberg

Amazon founder, chairman and chief executive, Jeff Bezos

© Getty

Tencent president Martin Lau, walks and talks with Sheryl Sandberg, Facebook chief operating officer

© Getty

Facebook chief executive and founder, Mark Zuckerberg

© Getty

IBM chief executive, Ginni Rometty

© Bloomberg

Rupert Murdoch, executive chairman of 21st Century Fox, and eldest son Lachlan Murdoch

© Bloomberg

Sir Martin Sorrell, chief executive of WPP, and, in the background, Mark Davis, owner of the Oakland Raiders football team

© Getty

General Motors chief executive Mary Barra

 

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