SoftBank on T-Mobile: 'We Have to Give It a Shot'
SoftBank CEO Masayoshi Son is convinced the only way Sprint and T-Mobile can compete against AT&T and Verizon is for the two smaller carriers to merge. Speaking on television with Charlie Rose, Son indicated that even though U.S. regulators have warned such a deal would face stiff opposition, Sprint is going to pursue T-Mobile anyway. "We would like to make the deal happen, but there are steps and details that we have to work out," said Son. "We have to give it a shot." AT&T and Verizon together control two-thirds of the U.S. wireless market. Even combined, Sprint and T-Mobile would be smaller than AT&T and Verizon Wireless by tens of millions of customers. Son said if the deal goes through, he'll launch a price war against the two larger carriers in order to break up the duopoly. Son and his team are actively engaging people in the wireless industry as well as in the government in order to convince them the deal has merit. Only after Son feels he has swayed their opinions will the company make an official bid for T-Mobile.
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