News Worms
News Worms

Mobile, Sprint Abandon Mega-Merger Talks

Mobile, Sprint Abandon Mega-Merger Talks

The Wall Street Journal, citing people familiar with the offer, said that T-Mobile CEO John Legere and Sprint CEO Marcelo Claure met on Wednesday, where Legere reiterated that Deutsche Telekom didn't want the deal to fall apart.

Sprint previously abandoned a bid for T-Mobile in 2014 when it became clear that the Obama administration would block the merger in order to preserve the competition created by having four major nationwide carriers.

But in a joint statement Saturday, Sprint and T-Mobile said they were calling off merger negotiations for the foreseeable future.

Sprint has sought to strengthen its balance sheet by cutting costs.

T-Mobile USA and Sprint today finally gave a definitive answer about whether they will merge. The two sides could reach a deal within weeks, but the two companies could still fail to agree on deal terms.

Mark Stodden, telecom analyst at Moody's, said "To really take the kind of next step from a business that has been stabilized to a business that has been growing is going to require a new more intense investment phase". The company that has championed unlimited data is now introducing a new plan with unlimited talk, text, and no data. It ... It slipped behind T-Mobile to become the country's fourth biggest mobile provider, and has a significant amount of debt.

This isn't the first time Sprint has tried to acquire T-Mobile, and it may not be the last. It seemed this most recent deal was doomed to failure, as well.

Deutsche Telekom representatives were believed to visit SoftBank's Masa Son this weekend, sources told CNBC. But Washington regulators have frowned on a possible merger. But President Donald Trump has also made populist comments on antitrust and prioritized job creation as a key platform.


editors' picks

November 05, 2017
StarCraft II: Free to Play Overview
You have to log in between November 8 and December 8 to claim that upgrade though. Learn more about the game at .

November 05, 2017
Contract employee identified as culprit for Trump's Twitter account disappearance
Feel like I need to re-evaluate my life choices after reflecting on my reaction to Trump's Twitter. Two hours later, Twitter acknowledged the shut-down wasn't an accident.

November 05, 2017
American arrested in Zimbabwe for 'insulting Robert Mugabe'
Ms O Donovan was arrested in a pre-dawn raid on her home in Harare and taken to Harare Central Police Station on Friday. Earlier this year, she presented a talk at a re:publica digital culture conference on "How Zimbabweans Rebel Online".

November 04, 2017
Dwyane Wade compares Heat's fourth Big Three season to 'bad marriage'
The Cavaliers superstar has played 44 games against the Wizards, averaging 26.1 points, 7.5 rebounds and 6.8 assists. Nichols then asked Wall to clarify if he thinks the Cavs avoided them to avoid playing them in the second round.

November 04, 2017
Prime Minister Narendra Modi inaugurates World Food India 2017
She said only 10% of the food produced in India was processed and the aim was to increase it three-fold to 30%. Badal has said that Khichdi is queen of all foods. "Food processing holds solutions to nutrition security".

November 04, 2017
Mourinho reaches out of court settlement with Spanish tax authorities
But after the hearing Friday he admitted that he had paid the required fee charged by prosecutors to bring an end to the distracting case.

November 04, 2017
WhatsApp hit by temporary global outage
Frantically seeking the reason, thousands of WhatsApp addicts took to Twitter , Facebook and other social media platforms. Earlier in May, WhatsApp faced a similar problem but unlike today the outage went for few hours (much longer than today).

November 04, 2017
FG urges Spain to embrace dialogue with Catalonia
The court postponed a hearing on Thursday until next week to allow more time for them to prepare their defence. Puigdemont has said he did not trust Spanish justice but would cooperate with the Belgian courts.

November 04, 2017
SIA gets fancy with new A380 suites
Singapore Airlines has ordered five of these A380 planes, on top of 14 planes of the type already in operation. British Airways, with 469 seats, will be the only carrier with a lower A380 seat count after the revamp.

November 03, 2017
Gaming firm Razer unveils powerful smartphone loaded with premium features
This means the device should easily handle hard tasks such as playing graphics-intensive video games and editing photos on the go. There's no release date for Australia or New Zealand yet, but as soon as we get word on its availability we'll let you know.