Mobile And Sprint's Merger Plans Are Dead

05 November, 2017, 02:07 | Author: Marjorie Miles
  • A woman talks on her phone as she walks past T-mobile and Sprint wireless stores in New York

Because merger talks have been called off, USA wireless consumers will continue to benefit from competition among four nationwide carriers as T-Mobile and Sprint challenge market leaders Verizon Wireless and AT&T.

"The prospect of combining with Sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders", John Legere, president and CEO of T-Mobile US said in the statement.

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With merger talk officially through, that means T-Mobile and Sprint will have to revisit their position in a marketplace where Verizon and AT&T dwarf their wireless subscriber totals.

Marcelo Claure, Sprint President and CEO added in the statement: "While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".

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On Monday it looked as if SoftBank, the Japanese conglomerate with a majority stake in Sprint, would end negotiations because of concerns about the ownership structure of the combined business, according to reports from Nikkei and The Wall Street Journal.

Sprint parent company Softbank is reportedly chatting up Charter Communications about a possible merger, amid indications that Sprint's merger deal with T-Mobile US has tanked. Nonetheless, Claure said that "we have agreed that it is best to move forward on our own". A merged T-Mobile-Sprint would have been a major challenger to number two AT&T, and could have given Verizon a run for the top spot in a few years. SoftBank CEO Masayoshi Son has talked about spinning off a new company that would own the valuable spectrum as a way to unlock its value.

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The companies expected to have a better shot at the merger this year under the Trump administration. Neither Sprint nor T-Mobile immediately replied to requests for comment by CNNMoney. "We won't stop now".

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