06 November, 2017
It's official: Sprint and T-Mobile have called off talks about a potential merger following months of negotiations that, at one point, likely had investors fairly excited about the potential of a huge new rival to AT&T, the nation's second-largest carrier.
T-Mobile US Inc. Details of the offer are unknown, but it's said that Sprint's board spent Thursday discussing this whole merger situation.
The fact that both the companies announced the canceled collaboration at the same time, may indicate that there can be a future discussion between the companies about merging once again.
The companies said they ended talks after they were "unable to find mutually agreeable terms".
Sprint President and CEO Marcelo Claure's side: "While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".
Claure said Sprint has agreed it is best to move forward on its own with its assets "including our rich spectrum holdings, and are accelerating significant investments in our network to ensure our continued growth".
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Sprint has a lot of debt and has posted a string of annual losses.
T-Mobile is a better position as a standalone company, analysts have said.
T-Mobile, on the other hand, is still the fastest growing and most innovative carrier in the states. At this point, talk of a merger is between Softbank and Charter, rather than having direct involvement with Sprint.
Both companies had expressed interest in a tie-up this year. Now sources are back saying that T-Mobile is scrambling to save the deal, and that it has sent revised terms to Sprint in hopes that something can be worked out.
An added wrinkle was Sprint's negotiations with cable companies Comcast Corp and Charter Communications Inc. What can the next era of T-Mobile and Sprint do to gain ground? It seemed this most recent deal was doomed to failure, as well.
Industry executives have expressed optimism about the prospect of consolidation.