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Mobile, Sprint Abandon Mega-Merger Talks

Mobile, Sprint Abandon Mega-Merger Talks”

However, we have agreed that it is best to move forward on our own.

Sprint Corp (N:) and T-Mobile USA Inc (O:) have ended merger negotiations, the companies said in a joint statement on Saturday.

Sources claim T-Mobile CEO John Legere reached out to Sprint's CEO Marcelo Claure following a T-Mobile board meeting held to decide whether the carrier would attempt to revive the deal. "However, 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 standalone performance and track record".

Germany's Deutsche Telekom (which own T-Mobile) and Japan's SoftBank (owners of Sprint) couldn't come to terms on who would control the combined companies so there was no way to go forward.

T-Mobile and Sprint are the U.S.′ third- and fourth-largest wireless carriers, respectively, but they are significantly smaller than AT&T and Verizon, who effectively have a duopoly over US wireless service.

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It is still possible that Sprint will reject the new terms or decline investing any more effort into the potential merger. But with the new Trump administration, it was thought regulators might be more relaxed about a merger.

T-Mobile USA and Sprint today finally gave a definitive answer about whether they will merge.

Sprint has a lot of debt and has posted a string of annual losses.

T-Mobile has seen growth in customer numbers in recent years, which many view as a reward for pioneering more customer-friendly options such as dropping two-year contracts, The Associated Press reports. The tone of the release suggests T-Mobile and Sprint are still on pleasant enough terms, so it's not unthinkable to imagine the two to partnering in some capacity in the future.



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