Sprint and T-Mobile Merger Plans Terminated
Sprint and T-Mobile have put to rest months of speculation that the two companies would merge. Both companies have confirmed that the two-wireless carriers have ended months of discussions to merge. Each company issued press releases announcing that the merger talks have stopped. This marks the first time the companies admitted they were in talks to merge, following months of rampant rumors that a deal was in discussion.
Rumors claimed that the merger talks were coming to closure. Recently, Sprint’s parent company, SoftBank Group, indicated they did not wish to proceed. T-Mobile reportedly put out a new last-minute offer to salvage the deal which ultimately was unsuccessful.
T-Mobile CEO John Legere admitted the prospect of combining the third and fourth largest wireless carriers in the US “has been compelling for a variety of reasons.” Sprint currently has 54 million wireless customers, while T-Mobile has 70.7. million subscribers.
Merger discussions are not new between the two companies with an unsuccessful merger attempted in 2014.