The medical community is changing its mind on chronic fatigue syndrome. Why aren’t insurers?

first_img By Steven Lubet and David Tuller July 19, 2018 Reprints By then, Vastag’s condition was grave. In an article he wrote for the Post, he described how his brain had become so sluggish it felt like “someone has poured molasses into my ear, gumming up all trillion synapses.” His vision was blurred, he suffered constant headaches, he could not walk more than a block — and those were the good days. On the bad days, he couldn’t get out of bed. Even moderate physical activity would leave him incapacitated for days. Tags advocacyinfectious diseaselegalrare disease Related: First OpinionThe medical community is changing its mind on chronic fatigue syndrome. Why aren’t insurers? NIH Director Francis Collins and Brian Vastag in 2017. The NIH launched a study seeking answers on chronic fatigue syndrome after Vastag wrote an open letter to Collins in 2015. NIH About the Authors Reprints Privacy Policy The cause of ME/CFS remains unknown. For decades, the medical establishment largely dismissed it as a psychological disorder and attributed the symptoms to deconditioning. But attitudes have shifted in recent years. According to a 2015 report from the Institute of Medicine (now the National Academy of Medicine), it is an organic illness, often triggered by a viral infection, that involves immunological and neurological dysfunctions. People with it experience paralyzing exhaustion, muscle pain, unrefreshing sleep, cognitive problems, and other symptoms. Many are homebound, even bedbound. The cardinal sign is suffering severe relapses after even minimal amounts of activity — a symptom called post-exertional malaise. In the last few years, the National Institutes of Health has increased funding for biomedical research into the illness.The medical establishment may be turning the corner in its recognition of ME/CFS as a serious illness, but the insurance industry remains largely mired in the past. Vastag’s win against Prudential is a hopeful sign that individuals with ME/CFS, many of whom have been turned down for disability benefits under similar arguments, might finally be gaining the respect, sympathy, and support they have always deservedSteven Lubet, J.D., is professor of law and director of the Fred Bartlit Center for Trial Advocacy at Northwestern University’s Pritzker School of Law. He has been living with chronic fatigue syndrome since 2006. David Tuller, Dr. P.H., is a senior fellow in public health and journalism at the Center for Global Public Health at the University of California, Berkeley. Members of the ME/CFS patient community generously donated to a crowdfunding campaign in support of Tuller’s position at Berkeley. Brian Vastag was enjoying a life that many people would envy. At age 41, he had achieved professional success as an award-winning health and science reporter for the Washington Post, covering important stories from around the world. That came to an end in July 2012, when he found himself afflicted by a mysterious and poorly understood illness that ended up sweeping away almost every vestige of his vigorous and productive life. To add insult to injury, he also had to endure a four-year battle with his insurance company to cover his disability claim for the condition he eventually learned was chronic fatigue syndrome.Like many Americans who experience serious health setbacks, Vastag thought he could rely for help on the disability policy he got through his employer. But because there is no widely accepted diagnostic test for chronic fatigue syndrome (also called myalgic encephalomyelitis, often abbreviated as ME/CFS), many of the 1 million or more Americans who have it are ridiculed and dismissed as delusional, hysterical, or suffering from some psychiatric disorder.Vastag’s symptoms initially resembled those of a nasty virus: fever, muscle aches, overwhelming weakness, fatigue, and dizziness that made it difficult to walk or stand. He visited specialists, who ran test after test. They found numerous abnormalities, but none could offer him a satisfactory diagnosis, much less an effective cure. He was finally referred to two experts who confirmed he had ME/CFS.advertisement Please enter a valid email address. With no alternative, Vastag retained two attorneys who specialize in disability issues — Barbara Comerford and Sara Kaplan-Khodorovsky — and sued Prudential. The lawsuit challenged the denial of benefits under the Employee Retirement Income Security Act of 1974, a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry.In assessing Vastag’s claim, Prudential relied on many of the classic stereotypes about ME/CFS. According to court documents, the company required an appraisal of his “psychosocial history and factors potentially related to stressors, academic history [and] patterns of reinforcement” as well as to “potential psychiatric difficulties, such as somatoform tendencies, depression, or anxiety.” The company ultimately rejected his disability claim, maintaining that “the medical data does not indicate any impairment” that would limit Vastag’s ability to perform his job — a point starkly contradicted by his extensive medical records.center_img Related: Why did it take the CDC so long to reverse course on debunked treatments for chronic fatigue syndrome? Steven Lubet In January 2014, 18 months after the onset of ME/CFS, Vastag stopped working and applied for disability. Prudential Insurance Company, which handled the Washington Post’s disability program, denied his claims for both short-term and long-term benefits. Despite the raft of test results that had been included in his claim and the clear evidence of his incapacity to walk around the block, let alone hold a full-time job, Prudential refused to believe that Vastag could be so severely disabled, no matter what his doctors and other national experts on ME/CFS stated.advertisement Leave this field empty if you’re human: Prudential essentially accused Vastag of malingering, declaring that he “stopped working, allegedly due to chronic fatigue syndrome,” and maintained that medical evidence did not support his claim. Most troubling, Prudential revealed that it had attempted surveillance of Vastag but had not managed to observe him in person. Instead, the company conducted “an internet investigation” aimed at disproving his claim.We asked Prudential several times to talk with us about Vastag’s case, but got no response to our questions.Surveillance can be a valid way of exposing false claims in disability or personal injury cases. But the use of surveillance in Vastag’s case — especially given the extensive evidence submitted by national ME/CFS experts — suggests an alarming level of denial about the severity of the illness. There was no evident reason to suspect Vastag of deception other than the diagnosis of ME/CFS.Prudential’s investigation turned up only that Vastag had moved from Washington to Hawaii, which the company falsely characterized as a vacation, and that he had published two short articles in 2014.Dr. Avindra Nath examines Brian Vastag during his participation in an in-house study on ME/CFS at the NIH. Courtesy Beth Mazur U.S. District Judge Katharine Hayden saw through Prudential’s smokescreen. Explaining in her decision that “the exact cause of CFS is unknown, and no laboratory test can directly diagnose it,” she noted that “the objective medical evidence … indicates that even low-level physical activity” required more energy than Vastag could generate. She rejected the opinions of Prudential’s medical reviewers, finding that none of them “demonstrated any expertise in CFS.” Hayden concluded that Prudential had wrongly denied Vastag’s benefits due to its “significant failure to understand the current state of medical knowledge about CFS and its devastating impact.”In forceful terms, the judge rejected Prudential’s arguments and ordered the company to pay up.A few other courts have ruled for ME/CFS claimants, but none with the definitive clarity of Hayden’s opinion. Even so, Vastag’s victory is not yet cause for unbridled celebration. Because disability cases are decided on their unique facts, this decision does not set a legal precedent, and there is no assurance that other judges will reach similar conclusions in future cases. Moreover, Vastag had access to resources — including information, knowledgeable medical care, and outstanding legal representation — that are available to few people with ME/CFS. @davidtuller1 [email protected] David Tuller Newsletters Sign up for First Opinion A weekly digest of our opinion column, with insight from industry experts. NIH launches study seeking answers on chronic fatigue syndrome last_img read more

Equifax hack likely affected only Canadians with dealings in U.S.

first_img Desjardins Group says 2019 theft of 4.2 million members’ data cost $108 million Facebook LinkedIn Twitter Keywords Cybersecurity Court approves data breach settlements with BMO, CIBC Related news IIROC urges vigilance amid heightened cybersecurity threatscenter_img The Canadian Press made multiple calls as consumers to Equifax Canada’s customer service line and were told that consumers whose credit files were not checked outside of Canada are unlikely to be part of any breach. Equifax Canada did not immediately respond to requests for comment. Equifax Inc. said last Thursday a security breach occurred over the summer that compromised the private information of up to 143 million Americans, along with an undisclosed number of Canadians. But the company has been tight-lipped about further details, including how many Canadians may have been exposed. Equifax Canada’s website says that “only a limited number of Canadians may have been affected” and “the breach is contained.” “We are working night and day to assess what happened,” the credit monitoring company says on its Canadian website. The Canadian breach may have impacted names, addresses and social insurance numbers, Equifax added. Organizations that have been targeted by a hack will soon be required by law to provide detailed information to both affected consumers and the Privacy Commissioner of Canada, if changes to the Canada’s Personal Information Protection and Electronic Documents Act go ahead as proposed. As part of new mandatory data breach reporting requirements, organizations must notify individuals directly and provide specific information, such as the circumstances of the breach, the day or period when the breach occurred, and a description of the personal information that has been compromised. Canada’s Department of Industry posted the proposed text of the new regulations on Canada Gazette on Sept. 2, for a 30-day public consultation. Meanwhile, Canada’s privacy commissioner has said it has prioritized an examination into the hack to ensure that Canadians’ information are protected by future risks. Canadian and American credit files must be kept separate due to differences in the various laws within the U.S. and Canada, according to the Equifax Canada website. However, American companies can pull Canadians’ files in Canada with consumers’ permission, according to credit risk expert Mike Morley. “Let’s say you’re a Canadian applying for a mortgage in the U.S. for your cottage… They will make a decision based on your Canadian credit information,” Morley said. That would generate a U.S. credit file for the consumer, he said. Morley added that Canadians who live and work south of the border would have their credit history pulled in Canada in various situations, including when applying for a credit card, or even by a potential employer or landlord. Equifax has set up a dedicated website, equifaxsecurity2017.com, and call centre to help consumers determine if their information has been compromised. However, Canada’s privacy watchdog says the website won’t help Canadians because it uses U.S. social security numbers. Instead, the privacy commissioner suggests that Canadians call Equifax at 1-866-828-5961 (English service) or 1-877-323-2598 (French service). At least two proposed class action lawsuits have been started on behalf of Canadians who may have been affected by the hack. Tony Merchant, the founder of Merchant Law Group, says he has filed proposed class actions on behalf of plaintiffs in British Columbia, Saskatchewan, Ontario and Quebec. The four plaintiffs checked their files on Equifax’s American website — which asks for last names and U.S. social security numbers — and were told their data may have been divulged, he added. Merchant’s law firm, which has offices in Edmonton and Calgary, has seen more than 700 Canadians sign up to be part of the class action. A spokeswoman for the Canadian Anti-Fraud Centre, which is the central agency in Canada that collects identification theft complaints and other related matters, said Wednesday it has not received any complaints in connection with the Equifax hack. With files from Dan Healing Equifax Canada’s customer service agents are telling callers that only Canadians who have had dealings in the United States are likely to be affected by the massive hack announced last week. The credit monitoring company’s call centre staff say that Canadians who have Equifax accounts in the U.S. could be at risk of having their data compromised, such as those who have lived, worked or applied for credit south of the border. Share this article and your comments with peers on social media David HodgesArmina Ligaya last_img read more

Manulife updates global brand

first_img Sun Life Financial buying Pinnacle Care International IE Staff Toronto-based Manulife Financial Corp. has updated its global brand, complete with a refreshed logo and visual identity that represents the company’s transformation into a digital, client-centric market leader, the life insurer announced Monday.The updates reflect Manulife’s focus on simplifying the complex for clients and communicate a unified, forward-thinking approach and its commitment to innovation, Manulife says in a news release. Manulife logo Manulife Manulife Canada CEO sees Apple and Netflix as competitors as insurance evolves “This updated brand marks a significant milestone on our transformation journey,” says Roy Gori, Manulife president and CEO, in a statement. “However, it is even more important because of what it unequivocally says to our customers: we are here for you, and we’re focused on helping you make your financial decisions easier and lives better.”Manulife has continued to invest heavily in redesigning its clinet experience and using technology to make it easier for clients to plan for the future and protect what matters most. It is also streamlining its product and service offering and the number of its websites and apps, and reducing the complexity of its internal processes.“We live in a world where we’re surrounded by choice. At the same time, it’s harder than ever before to decide which products and services are best for us,” says Gretchen Garrigues Manulife global chief marketing officer, in a statement. “Recognizing this reality, we are committed to helping our customers cut through the noise and make confident decisions as they pursue their life goals. Our updated brand reflects this commitment.”Manulife’s updated brand will impact every channel and means through which the company communicates with clients. The new logo and visual identity have already begun rolling out across the company’s major offices around the world, as well as a number of its key digital properties, including manulife.com.The launch will continue throughout the rest of the year and into 2019 around the world. Omega Securities rebrands as Tradelogiq Markets Facebook LinkedIn Twitter Related news Share this article and your comments with peers on social media Keywords Branding,  Life insurance industryCompanies Manulife Financial Corp. last_img read more

Insight – How to succeed in India’s METS sector

first_imgInsight – How to succeed in India’s METS sector AustradeIn December 2020, India’s Government released its new Australia Economic Strategy. This identified Australian METS as a valuable partner in the ongoing liberalisation of India’s mining sector. With 1,500 mines in operation in India, new developments are creating fresh opportunities for Australian companies:New mine operating models designed to encourage private-sector involvementAuctions of state-owned coal minesNew regulations that aim to increase overseas investment.This insight gives an overview of some of the key opportunities and challenges facing prospective METS suppliers in India. It suggests ways to approach state-owned mining enterprises and identifies opportunities for Australian METS in skills training and development. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Austrade, Australia, Australian, coal, Government, India, Investment, mining, operationlast_img read more

WATCH: Clark County TODAY LIVE • Friday, November 6, 2020

first_img Posted by Jacob Granneman|Friday, November 6, 2020 |in : PeopleNational Network of Youth Ministries endeavors to unite leaders at home and nationwide Posted by John Ley|Friday, November 6, 2020 |in : NewsCaring for COVID-19 patients in Clark County Posted by Paul Valencia|Friday, November 6, 2020 |in : PeopleCamas businessman builds field for youth baseball, softball Southwest Washington education associations are calling on Clark County Public Health and area school districts to respect the state Department of Health school reopening…Read more Caring for COVID-19 patients in Clark County Posted by ClarkCountyToday.com|Friday, November 6, 2020 |in : NewsArea educators call for delay to the expansion of onsite instruction Camas businessman builds field for youth baseball, softball National Network of Youth Ministries endeavors to unite leaders at home and nationwide Area educators call for delay to the expansion of onsite instruction As the Northwest Coordinator of Engagement and Training for the National Network of Youth Ministries, Philip Ball has worked on the ground with youth workers and leaders…Read more WATCH: Clark County TODAY LIVE • Friday, November 6, 2020Posted by ClarkCountyToday.comDate: Friday, November 6, 2020in: Newsshare 0 WATCH: Close elections reverse direction ; A local nurse’s experience with COVID-19 ; Area educators want to pause in-person learning ; The local arm of the National Network of Youth Ministries ; Camas resident builds baseball fields on his own property ; A look at the beauty of fall. An area hospital nurse shares experiences in caring for COVID-19 patients.Read more A Camas property that was once an eyesore has been turned into a baseball and softball facility for youth, thanks to the generosity of Jason Pond and family.Read more AdvertisementThis is placeholder textTags:Clark CountyLatestshare 0 Previous : Caring for COVID-19 patients in Clark County Next : Battle Ground’s Culinary Arts teachers cook up engaging lessonsAdvertisementThis is placeholder textlast_img read more

CU-Boulder Entrepreneurship Center Announces New Advisory Board Members

first_imgThe CU-Boulder Deming Center for Entrepreneurship has appointed three Colorado business leaders to its advisory board – Joyce Colson-Quinn, Jon Nordmark and Chris Wand. “The Leeds School relies heavily on advice and interaction with professional business people to ensure our curriculum, research and student services keep pace with current best business practices,” said Steven Manaster, dean of the Leeds School of Business. The Deming Center is a joint program of the Leeds School of Business and the College of Engineering and Applied Science. Colson-Quinn, a partner in the Boulder law firm of Colson-Quinn, has represented Fortune 500 companies and entrepreneurs seeking guidance to start businesses. She is a co-founder of Start Up Base Camp, an educational seminar in Denver for entrepreneurs. Nordmark is the CEO of eBags.com, a Denver-based online retailer specializing in travel bags and accessories. Ebags was recently awarded BizRate’s Circle of Excellence for being in the top 1 percent of 2,000 companies in the service and fulfillment areas. He previously was senior marketing director for Samsonite. Wand is a principal at Mobius Venture Capital based in Colorado. Before joining the firm, he also was the director of strategic planning and corporate development at MessageMedia. He has served as a consultant for LEK Consulting, focusing on mergers and acquisitions advisement to Fortune 500 clients. The 35-member advisory board consists of entrepreneurs, venture capitalists, service providers in fast-growth companies, and consultants and researchers involved with entrepreneurial organizations. The board provides communication among the entrepreneurial business community, the Leeds School of Business and the College of Engineering and Applied Science. It also helps direct the Deming Center, provides expertise and is a source of professional contacts and job opportunities for students. Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: March 4, 2003 last_img read more

Campus expanding First Year Experience program to increase accessibility of learning communities

first_img Published: April 5, 2021 Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail The First Year Experience (FYE) program is expanding its offerings through a new multiyear initiative that will increase the accessibility of learning communities to all incoming residential and commuting first year students.“It is important for us to provide all first year students with an experience that promotes their engagement with campus and creates a sense of belonging for them,” said Mary Kraus, vice provost and associate vice chancellor for undergraduate education, who co-led this initiative with Ann Schmiesing, executive vice provost for academic resource management. “Building these connections to campus life increases the potential for students to remain at CU Boulder and complete their undergraduate degrees here,” Kraus said.This FYE initiative follows substantial engagement with and input from stakeholders including faculty and staff committees, the Boulder Faculty Assembly, and deans. It also aligns with recommendations from several cross-campus committees, which include the RAP Task Force (2017), IDEA Plan (2019),and Foundations of Excellence (2019).Existing residential academic programs (RAPs) and Living Learning Communities (LLCs) will reopen in fall 2021 at regular staffing levels. LLCs in Engineering and Student Affairs will continue in the 2021–22 academic year, and a new LLC for students in the Program in Exploratory Studies (PES) and A&S OPNO (open option) will be created.“As part of this multiyear initiative, we plan to examine and, in some cases, shift existing program locations. We also plan to add additional LLCs, including learning communities for commuter students,” said Schmiesing. Additional LLCs will be phased in over several years to allow time for a proposal process and a funding model to be developed.Student Affairs and the Office of Undergraduate Education have established a First Year Experience Advisory Board, with representatives from the schools and colleges, the Office of Undergraduate Education, the Division of Student Affairs, the Office of the Registrar, the Office of Admissions, and Budget and Fiscal Planning.The advisory board is currently developing guidelines and procedures for the development of new LLCs. Equity of access and location will guide decisions made by the advisory board. “The campus already has numerous RAPs, but only four LLCs. By building out LLCs while retaining RAPs, we will be able to offer students a robust and engaging menu of first year residential experiences,” Kraus said. “Creating additional LLCs addresses concerns regarding RAP equity and access by ensuring that all incoming first year students can participate in first year experience programs without financial barriers.”A request to halve the RAP fee from $850 to $425 will be presented to the Board of Regents for approval in April. Categories:Foundations of ExcellenceStrategic InitiativesCampus Communitylast_img read more

Resident arrested for DUI

first_imgHomeNewsCrimeResident arrested for DUI Jan. 12, 2017 at 7:30 amCrimeResident arrested for DUIeditor4 years agodaily pressdaily press crime watchpolice department santa monica policeSanta Monica Crimesanta monica crime watchsanta monica daily presssmdpsmpd On January 3, at about 8:46 p.m.Officers were dispatched to 6th Street and Pico Blvd regarding a traffic collision. The involved vehicle struck the center median and caused damage to the fence in the median. As officers arrived, the driver was attempting to reverse out of the median. Officers contacted the driver and immediately noticed symptoms consistent with being under influence of alcohol. Santa Monica Fire Department Paramedics responded to treat the driver for minor injuries. The driver refused to exit the vehicle and became combative with officers. Officers forcibly removed the driver from the vehicle. He was transported to the hospital for minor injuries sustained from collision.Tihomir Dukic, 40, from Santa Monica was arrested for DUI, resisting arrest and driving on a suspended license. Bail was set at $25,000.Tags :daily pressdaily press crime watchpolice department santa monica policeSanta Monica Crimesanta monica crime watchsanta monica daily presssmdpsmpdshare on Facebookshare on Twitteradd a commentYear-end fundraising benefits PYFCHe’s A Lion, Hear Him RoarYou Might Also LikeCrimeCRIME WATCHNewsCrime WatchGuest Author3 days agoCrimeFeaturedKnife-wielding woman arrested during L.A. Councilman’s speechGuest Author4 days agoCrimeCRIME WATCHNewsCrime WatchGuest Author7 days agoFeaturedNewsAfter local teen’s death, parents protest Snapchat’s inaction against drug dealersClara Harter7 days agoCrimeFeaturedHomeless man loses an eye to BB gun assaultGuest Author1 week agoCrimeCRIME WATCHNewsCrime WatchGuest Author1 week agolast_img read more

Facebook makes first drone test flight

first_img Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Related Ken Wieland Home Facebook makes first drone test flight Author Previous ArticleBlackBerry in the black for Q4, as focus shifts to “sustainable profitability”Next ArticleTeliaSonera says whistleblowing scheme has exposed potential corruption Español Facebook announced it had completed the first successful test flight of its UAV (unmanned aerial vehicle) platform, which it intends to deploy in order to extend connectivity as part of its internet.org initiative.The drone, as reported by TechCrunch, has a wingspan comparable to a Boeing 767 but uses lightweight materials that allow it to weigh less than a car. More tests are scheduled for the summer.Speaking at the social media giant’s annual developer conference this week, Mike Schroepfer, Facebook’s chief technology officer, described the UAV platform as part of “radical new infrastructure” that the firm’s Connectivity Lab is developing “to connect people living in some of the most inaccessible areas on Earth”.“It’s our hope that this platform — and others developed by the Connectivity Lab team — will provide new, more cost-effective solutions for our operator partners around the world,” he said. “As with the Open Compute Project, we want to work with the broader community to accelerate the pace of innovation.The Connectivity Lab includes a team from Ascenta, which designs and builds high altitude long endurance aircraft. Facebook reportedly acquired the UK-based company for just under $20 million.As well as high-altitude long-endurance planes, the Connectivity Lab is also looking at satellites and lasers as a way to extend connectivity where traditional mobile networks don’t reach.It is not clear when Facebook expects these new ways of connecting people to become a practical reality, although the firm seems to have a clear desire to work with others, as Schroepfer indicated, to speed up development.Facebook CEO Mark Zuckerberg, in a recent interview with Bloomberg, even declared he would “love to work with Google”.While Facebook has been working on drones and satellite technology to develop “new platforms for connectivity on the ground, in the air and in orbit”, Google’s Project Loon involves solar-powered transmitters attached to helium balloons to provide internet access to the developing world.Zuckerberg has said he wants to spend billions on the internet.org project without expecting returns, at least in the short term.center_img Mobile Mix: AI, Android and open RAN dronesFacebookGoogleinternet.orgProject LoonResearchServicesTechnology Google taps retail with NYC store Google renueva Android y muestra novedades en IA AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 27 MAR 2015 Tags last_img read more

SoftBank confirms plan to offload T-Mobile shares

first_img Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he… Read more SoftBank Group ended speculation around the future of its T-Mobile US holding, detailing a move to offload a stake in the operator as part of fundraising efforts to tackle its massive debt.In a statement today (16 June), SoftBank said it is in talks with Deutsche Telekom and T-Mobile, but noted there is no assurance a deal will be finalised.Any sale may include private placements or public offerings; transactions with stockholders of T-Mobile, including Deutsche Telekom or third parties; derivative or hedging transactions; margin loans; or other structured transactions, it stated.Last month, Bloomberg reported SoftBank was considering selling $20 billion-worth of its holdings in the operator: it has a 25 per cent stake in T-Mobile following the US company’s merger with Sprint.In March, SoftBank outlined plans to sell JPY4.5 trillion ($41.9 billion) in assets to reduce debt and buy-back JPY2 trillion worth of shares, after reporting a record net loss of JPY961.6 billion in the year to end-March.It approved a sale of 240 million shares of its domestic mobile operator valued at JPY310 billion as part of the plan in May. Subscribe to our daily newsletter Back T-Mobile US chief predicts market rebound AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 16 JUN 2020 Home SoftBank confirms plan to offload T-Mobile shares Joseph Waring SoftBankT-Mobile US Related Author Amazon reels in MGM Deutsche Telekom, SoftBank tipped for T-Mobile trade Tags Previous ArticleKT to acquire stake in Hyundai robotics unitNext ArticleEricsson hikes 5G forecast on China demand last_img read more