Sprint Execs Talk T-Mobile with Justice Department
Sprint's senior executives recently met with members of the U.S. Department of Justice to ascertain just how much opposition a merger between Sprint and T-Mobile might face. The meeting included Masayoshi Son, CEO of SoftBank, which holds a majority stake in Sprint, and Dan Hesse, CEO of Sprint. Justice Department officials told Son and Hesse that such a deal would "face skepticism" from government regulators, according to people familiar with the details of the conversation. Regulators appear to favor the current competitive environment, which includes four national network operators, as opposed to three were Sprint and T-Mobile to combine. Sprint already has commitments from banks to finance the deal. SoftBank and Deutsche Telekom, which owns 67% of T-Mobile, have met to iron out the broad strokes of a merger/acquisition. Many details have yet to be finalized before an acquisition is formally proposed.
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Sprint Woes Weigh on SoftBank CEO Masayoshi Son
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SoftBank Sinks More Money Into Sprint
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SoftBank to Trim Thousands of Jobs at Sprint
Masayoshi Son, CEO of SoftBank, said the company plans to eliminate thousands of jobs at Sprint in order to reduce costs and aid in the company's turn-around plans. Son made the comments while discussing SoftBank's financial performance, which was impacted negatively by Sprint.
I hope the hole government opposed to that,
I cant wait...
I would be totally against this if the government would let this pass for a many reasons:
1) It will eliminate competition.
2) It will eliminate jobs.
3) This will enable a foreign company to have more share of the US market. I know this sounds silly but there's something to be said with AT&T and now Verizon, the top two carriers, being completely US companies!
Now if a company like US Cellular or another smaller carrier would step in and make a purchase that ...
1. T-Mobile is already a foreign company with the majority owner being DT from Germany.
2. The Vodaphone divesture is not yet finalized so VZW is still partly foreign owned. And yes that reason did sound silly. AT&T m...
Dan Hesse trying to get John Legere under control