A group of potential buyers are working on bids to acquire Boost Mobile from T-Mobile US Inc. and Sprint Corp. in a deal that values the prepaid wireless brand at up to $3 billion, Reuters reported May 29, citing interested parties.

The sale process is expected to begin after a review of T-Mobile's proposed takeover of Sprint by the U.S. Department of Justice. Federal Communications Commission Chairman Ajit Pai earlier said he is ready to recommend the approval of the T-Mobile/Sprint deal after the companies offered concessions, which include asset sales, a divestment of Boost Mobile and a commitment to a three-year buildout of 5G networks.

With private equity backing, prepaid brand Q Link Wireless LLC is working on a bid in the range of $1.8 billion to $3 billion, its founder and CEO Issa Asad told Reuters. Asad said the price will depend on the quality of Boost's customers, the devices they are using, and what type of phone plan they are on.

FreedomPop CEO Stephen Stokols is advising an undisclosed private equity group that is interested in bidding for Boost Mobile. If the bid is successful then the PE group would merge Boost Mobile with FreedomPop, Stokols said.

Peter Adderton, founder of Boost Mobile who sold the U.S. business to Nextel in 2004, which was then acquired by Sprint, is also interested in buying back Boost.

According to a recent Bloomberg News report, the DOJ is leaning toward rejecting the pending merger between T-Mobile and Sprint.