Mobile, Sprint Abandon Mega-Merger Talks

Mobile, Sprint Abandon Mega-Merger Talks

Mobile, Sprint Abandon Mega-Merger Talks

T-Mobile and Sprint are no longer in talks to merge, with the companies saying on Saturday that they were unable to come to terms on an agreement that would have united the third- and fourth-largest US wireless carriers.

T-Mobile has seen growth in customer numbers in recent years, which many view as a reward for pioneering more customer-friendly options such as dropping two-year contracts, The Associated Press reports.

The companies issued a joint statement Saturday, after a week of speculation, saying they "have ceased talks". But T-Mobile won't pursue a deal that doesn't "result in superior long-term value for T-Mobile's shareholders compared to our outstanding stand-alone performance and track record", he said. Nonetheless, Claure said that "we have agreed that it is best to move forward on our own".

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"While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".

Legere conveyed to Mr. Claure that T-Mobile and its parent company, Germany's Deutsche Telekom AG, didn't want the deal to fall apart, the report said. Sources had originally stated that Sprint made a decision to call off the acquisition because Deutsche Telekom was looking to get the majority of control over the entity resulting from the merger; though some Sprint executives were reportedly okay with this, others allegedly wanted more. 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.

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. But T-Mobile lobbed in a last minute counter offer and there was hope again that a deal could be salvaged. Sprint hasn't had a profitable year in a decade, leaving a pile of credits from net operating losses that could benefit T-Mobile. "We won't stop now".

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