Mobile, Sprint Abandon Mega-Merger Talks


That news was confirmed Saturday with a statement posted on the T-Mobile website. But no deal was announced immediately following the conclusion of a ban on merger talks in April that was associated with a US government auction of wireless airwaves. The company had eyed the Deutsche Telekom company as a way to grow its own footprint in the United States and take on the two big carriers in the nation, AT&T and Verizon.

Wireless carriers Sprint and T-Mobile called off a potential merger, saying the companies couldn't come to an agreement that would benefit customers and shareholders.

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.

T-Mobile CEO John Legere also said there were benefits to consolidating, but added that, "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". SoftBank founder and CEO Masayoshi Son reportedly did not want to give up control of Sprint. Sources had originally stated that Sprint chose to call off the acquisition because Deutsche Telekom was looking to get the majority of control over the entity resulting from the merger; though some Sprint executives were reportedly okay with this, others allegedly wanted more.

More news: Who is the suspect in deadly attack in NY ?

The companies expected to have a better shot at the merger this year under the Trump administration.

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

Industry executives have said a combined Sprint-T-Mobile entity would have the scale, network and enhanced portfolio of wireless airwaves and a better chance to develop 5G, the next generation of wireless technology.