Mobile, Sprint call off merger attempt

05 November, 2017, 02:10 | Author: Sherri Guerrero
  • T-Mobile and Sprint work to save merger talks WSJ

"T-Mobile does not need a merger with Sprint to succeed, but Sprint might need one to survive", Piecyk wrote in an October research note.

The announcement marks the latest failed attempt to combine the third- and fourth-largest USA wireless carriers, as Sprint parent SoftBank Group Corp (9984.T), and T-Mobile parent, Deutsche Telekom AG (DTEGn.DE), show unwillingness to part with too much of their prized US telecom assets.

T-Mobile has made a revised merger offer to Sprint, say sources speaking to the Wall Street Journal. Sprint hasn't had a profitable year in a decade, leaving a pile of credits from net operating losses that could benefit T-Mobile. The investment ignited speculation about Son and SoftBank trying to revive merger talks. 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". Sources had originally stated that Sprint chose 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 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.

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It is still possible that Sprint will reject the new terms or decline investing any more effort into the potential merger.

This isn't the first time Sprint has tried to acquire T-Mobile, and it may not be the last.

Instead, Sprint CEO Marcelo Claure said today in a joint statement with T-Mobile, that even though no deal was reached, both Sprint and T-Mobile see the benefits to a combination of the two wireless operators. "We won't stop now".

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