It has been reported several times over the past few years that Sprint and T-Mobile have been talking about a potential merger. It was believed that the combined entity would be able to better compete against the likes of Verizon and AT&T. Reports about talks between T-Mobile and Sprint picked up over the past few months and once again, they have been unable to reach an agreement. It has now been publicly confirmed that the merger negotiations have been called off.
T-Mobile and Sprint have jointly announced that they have ceased talks to merge as they were unable to find mutually agreeable terms.
“The prospect of combining with Sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders,” said T-Mobile CEO John Legere, adding that the company has been clear from the start that a deal has to result in long-term value for T-Mobile’s shareholders.
He also pointed out that T-Mobile has been growing in this industry for the last 15 quarters and it’s going to keep up the momentum.
Sprint CEO Marcelo Claure said that the companies have agreed that it’s best to move forward on their own. “We look forward to continuing to take the fight to the duopoly and newly emerging competitors,” he added.
So we’re unlikely to hear more reports about a potential merger in the near future. The door hasn’t been closed completely on this possibility, who knows, a few years down the line we might be talking about this once again.
Filed in . Read more about Sprint and T-Mobile. Source: newsroom.t-mobile