Mobile reportedly makes Sprint new offer in an effort to save merger

Laverne Mann
November 5, 2017

The two companies have said they hoped to find a way of merging to make the wireless market more competitive.

Sprint president and CEO Marcelo Claure said: "While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination". News of the merger falling through due to a breakdown in power management is not entirely shocking, given the massive dose of personality that CEO John Legere has injected into T-Mobile over his five year tenure; to lose any control over the company's management or image would nearly certainly break any talk of a merger, though it's still unclear exactly how things unfolded to lead to where we are today. 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". Neither Sprint nor T-Mobile immediately replied to requests for comment by CNNMoney. It seemed this most recent deal was doomed to failure, as well. The decision to call off merger talks came after a meeting involving the heads of all four companies, according to The Wall Street Journal.

T-Mobile US Inc. and Sprint Corp. were reportedly on the verge of inking a deal in September, but rumors have been swirling over the last couple of weeks that negotiations had stalled.

The long-sought merger reportedly fell apart because SoftBank was unhappy with the latest terms, which would have given Deutsche Telekom majority ownership of both carriers. If the companies had struck a deal this year, they would have had a better chance of getting government approval under the Trump administration.

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T-Mobile and Sprint have been attempting a potential merger, but on Saturday the two companies released a joint statement announcing that they've decided not to go forward.

Sprint "look [s] forward to continuing to take the fight to the duopoly and newly emerging competitors", Claure said. "We won't stop now".

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

Other reports by MaliBehiribAe

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