Mobile and Sprint finally discontinue merger talks

by Leon Thompson November 6, 2017, 0:18
Mobile and Sprint finally discontinue merger talks

It's official: Sprint and T-Mobile have called off talks about a potential merger following months of negotiations that, at one point, likely had investors fairly excited about the potential of a huge new rival to AT&T, the nation's second-largest carrier.

A combined company would have had more than 130 million USA subscribers, behind Verizon Communications Inc and AT&T Inc.

On the other hand, this unsuccessful merge might be a benefit for the consumers as all the four companies will keep the wireless prices as low as possible in order to achieve a greater number of customers.

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T-Mobile made a revised offer, which Sprint is considering, the Journal said. 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.

John Legere, chief executive of T-Mobile, said in the statement that the prospect of combining with Sprint was compelling but "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".

"While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination". However, we have agreed that it is best to move forward on our own.

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Deutsche Telekom, which has toyed with options for its US business for years, put a fearless face on the unravelling of the deal on Saturday night, saying T-Mobile would continue its successful growth strategy.

Sprint has a lot of debt and has posted a string of annual losses. If the companies had struck a deal this year, they would have had a better chance of getting government approval under the Trump administration. Both Sprint and T-Mobile said they were open to exploring other options.

Both companies had expressed interest in a tie-up this year. What can the next era of T-Mobile and Sprint do to gain ground? (TMUS) and Sprint Corp.

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