Sprint Uninterested In the Uncarrier, Will Abandon Merger
Sprint plans to end its pursuit of T-Mobile. The company and its owner SoftBank have been weighing the idea for nearly a year. They now believe Sprint will not be able to win regulatory approval of an acquisition or merger between Sprint and T-Mobile, according to unnamed sources cited by The Wall Street Journal. The FCC and Justice Department were quick to tell Sprint they prefer a four-carrier market to maintain competition. Sprint and its owner Softbank will pursue a solo strategy moving forward. Sprint may make a formal announcement regarding a change of direction as soon as Wednesday. Separately, Bloomberg also reported that Sprint and T-Mobile have ended merger talks. Bloomberg further noted Sprint may also announce a new CEO to replace Dan Hesse along with its new strategy. Sprint has not made any announcements, nor did it comment on either report.
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More Carriers and Phone Makers Agree to Adopt Google's RCS-Based 'Android Messages' Service
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T-Mobile Wants $1B Break-Up Fee If Sprint Deal Fails
T-Mobile and Sprint are weighing several big factors ahead of a potential merger between the two. To start, Deutsche Telekom, a two-thirds owner of T-Mobile, is demanding a break-up fee of at least $1 billion if the merger is shot down by U.S.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
1. I think this proves Sprint is no better off under Softbank than they ever were before. Everybody knew this deal would not go through except Masayoshi Son, who for some reason took almost a year to figure it out.
2. Dan Hesse being shown the door. Its years too late but at least it finally happened. Hopefully there is a purge of all executive leadership at Sprint.
Break up fees
so I'd hazard to say that they didn't want to pay break up fees.
What other reason is there for a sudden change of heart?
T-Mobile is in good financial shape, so that's not the issue.