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.


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