Mobile And Sprint Abandon Merger Talks

T-Mobile and Sprint work to save merger talks WSJ

T-Mobile and Sprint work to save merger talks WSJ

Wireless giants T-Mobile US and Sprint on Saturday said they have ended talks towards a mega-deal that would have merged the two and created a company to better compete with AT&T and Verizon.

The companies' unusual step of making a joint announcement on the canceled negotiations could indicate they still recognize the merits of a merger and could keep the door open for potential future talks.

T-Mobile made a revised offer, which Sprint is considering, the Journal said. To shore up cash over the past two years, the company has already mortgaged a portion of its airwaves and equipment through sale leaseback deals. Neither Sprint nor T-Mobile immediately replied to requests for comment by CNNMoney. The Wall Street Journal, citing people familiar with the offer, said that T-Mobile CEO John Legere and Sprint CEO Marcelo Claure met on Wednesday, where Legere reiterated that Deutsche Telekom didn't want the deal to fall apart.

Son met with Trump the month before he took office to talk up an investment in USA businesses. The company that has championed unlimited data is now introducing a new plan with unlimited talk, text, and no data. It ... But no deal was announced immediately following the conclusion of a ban on merger talks in April that was associated with a US government auction of wireless airwaves.

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Both companies had expressed interest in a tie-up this year, and industry analysts expected T-Mobile to have more leverage in discussions this time around.

T-Mobile, on the other hand, is still the fastest growing and most innovative carrier in the states.

Reports suggest that a major hurdle to the merger wasn't Sprint or T-Mobile directly, but rather the their ownership.

Bloomberg has reported that SoftBank CEO and Sprint chairman Masayoshi Son is still waiting on further talks with Deutsche Telekom to try and salvage the deal, but a New York Post story claims he is also holding high level talks with executives at Charter.

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