T-Mobile-Sprint merger may not be dead after all as CEOs Legere and Claure reportedly revive talks
05 November, 2017, 02:09
Wireless giants T-Mobile US and Sprint on Saturday said they have ended talks towards a mega-deal that would have merged the two and created a company to better compete with AT&T and Verizon. Neither Sprint nor T-Mobile immediately replied to requests for comment by CNNMoney. The wireless carriers "were unable to find mutually agreeable terms" and want to "put an end to the extensive speculation around a transaction", they said in a joint announcement. But, he continued, "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".
Earlier this week, sources claimedSoftBank's board had made a decision to call off the Sprint-T-mobile merger, the reason being an inability to work out ownership terms with T-Mobile's Deutsche Telekom.
Sprint president and CEO Marcelo Claure said: "While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".
The previously proposed merger with T-Mobile was supposed to help both carriers fill gaps in coverage and increase their speed and capacity, along with allowing spectrum interlock to make 5G deployment across diversified solutions easier across the entire USA market.
Shares of Sprint and T-Mobile tumbled Monday after rumors emerged that merger talks between the two companies were fizzling.
In 2014, the nation's No. 3 and No. 4 wireless providers considered joining forces but eventually called off merger talks because it was believed the US regulatory hurdles under the Obama administration were too steep. Claure, the Sprint CEO, is also a member of SoftBank's board.
It is still possible that Sprint will reject the new terms or decline investing any more effort into the potential merger. "We won't stop now".
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