Potential T-Mobile And Sprint Merger Falls Apart

05 November, 2017, 01:37 | Author: Cecelia Webb
  • Potential T-Mobile And Sprint Merger Falls Apart

"However, we have agreed that it is best to move forward on our own", said Marcelo Claure, Sprint's CEO.

But in a joint statement Saturday, Sprint and T-Mobile said they are calling off merger negotiations for the foreseeable future. Had T-Mobile and Sprint completed a merger, Reuters says the new company would have claimed more than 130 million subscribers.

The announcement marks the latest failed attempt to combine the third- and fourth-largest US wireless carriers, as Sprint parent SoftBank Group Corp 9984.T , and T-Mobile parent, Deutsche Telekom AG, show unwillingness to part with their prized USA telecom assets. News of the merger falling through due to a breakdown in power management is not entirely shocking, given the massive dose of personality that CEO John Legere has injected into T-Mobile over his five year tenure; to lose any control over the company's management or image would nearly certainly break any talk of a merger, though it's still unclear exactly how things unfolded to lead to where we are today. "However, we have been clear all along that a deal with anyone will have to result in superior long-term value for T-Mobile's shareholders compared to our outstanding stand-alone performance and track record".




T-Mobile and Sprint are the third- and fourth-largest USA wireless carriers but they are significantly smaller than AT&T and Verizon, who effectively have a duopoly over United States wireless service.

T-Mobile has seen growth in customer numbers in recent years, which many view as a reward for pioneering more customer-friendly options such as dropping two-year contracts, The Associated Press reports. Now sources are back saying that T-Mobile is scrambling to save the deal, and that it has sent revised terms to Sprint in hopes that something can be worked out. Now that nothing has changed, Sprint remains in a vulnerable position, having reported annual losses for ten consecutive years.

In December, SoftBank CEO Masayoshi Son met at Trump Tower with then-President-elect Donald Trump, rekindling speculation that SoftBank would renew merger efforts under a Republican administration.

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