Mobile Sprint merger may be saved with last minute compromise
05 November, 2017, 02:07 | Author: Brenda Erickson
Sources claim T-Mobile CEO John Legere reached out to Sprint's CEO Marcelo Claure following a T-Mobile board meeting held to decide whether the carrier would attempt to revive the deal.
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. He saidSprint has agreed it is best to move forward on its own with "significant assets, including our rich spectrum holdings, and are accelerating significant investments in our network to ensure our continued growth".
"While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".
Wireless carriers Sprint and T-Mobile called off a potential merger, saying the companies couldn't come to an agreement that would benefit customers and shareholders.
Sprint Corp (S.N) and T-Mobile US Inc (TMUS.O) said on Saturday they have called off merger talks to create a stronger USA wireless to rival market leaders, leaving No. 4 provider Sprint to engineer a turnaround on its own. But Washington regulators have frowned on a possible merger. Softbank CEO Masayoshi Son personally approached Charter about a merger, and talks at this point are reported to be strictly exploratory and preliminary in nature, but include a number of higher-ups from both companies. With the new Trump administration, it was thought regulators might be more relaxed.
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