Sprint, Charter, Comcast in Talks

27 June, 2017, 14:29 | Author: Gladys Mathis
  • Sprint climbed 5.8 percent following a published report suggesting the mobile phone company is in talks with Charter Communications and Comca

Sprint has entered exclusive talks with Comcast and Charter Communications to discuss an agreement that could boost the cable operators's plans to offer wireless services, The Wall Street Journal reported, citing people familiar with the matter. Subsequently, Sprint's merger talks with T-Mobile are now on hold, the WSJ said.

His comments to reporters late on Monday were made before news broke that Sprint, the fourth largest mobile operator in the US, was in talks with cable companies Charter Communications and Comcast about a partnership.

Charter and Comcast, the two largest USA cable companies by subscribers, in May agreed to a wireless truce, which barred both companies from doing a wireless deal without the other's blessing or participation for a year.

Either combination could be negative for Verizon. The cable companies would receive "favorable terms" to offer their own wireless service on Sprint's network as part of the arrangement, it said. At the time, Sprint agreed a business integration with T-Mobile with the aim of becoming a carrier that could challenge industry leader Verizon Communications and No. 2 AT&T.

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Hoettges declined to give any comment about possible consolidation in the United States, saying only that the market remained more attractive than Europe.

A similar offering from Charter is due in 2018.

Comcast and Charter Communications recently confirmed that they would "explore potential opportunities for operational cooperation" in wireless, with a focus on operational efficiencies, including common operating platforms, technical standards, device logistics and emerging wireless tech platforms.

Mr. Malone, a pioneer of the US cable business, has long felt that the cable industry should work closer together to combat threats like Netflix Inc. and the wireless carriers.

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