Mobile reportedly makes Sprint a revised offer

05 November, 2017, 01:11 | Author: Jeannette Greene
  • T-Mobile US CEO John Legere and his executive team announce Un Carrier 12.0 from the company's Bellevue

If T-Mobile and Sprint had aligned, they would collectively rise to the number three provider slot in the USA mobile market.

In a joint statement, the third- (T-Mobile) and fourth-largest (Sprint) wireless carriers in the US explained that they were unable to agree on the terms of a deal. SoftBank CEO Masayoshi Son has talked about spinning off a new company that would own the valuable spectrum as a way to unlock its value. 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.

T-Mobile Chief Executive John Legere spoke with Sprint Chief Executive Marcelo Claure on Wednesday, after a T-Mobile board meeting in NY where directors agreed to renew their overtures to Sprint to keep the deal alive, the report said. However, we have agreed that it is best to move forward on our own.

"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 stand-alone performance and track record", he added. But Sprint stock stumbled Monday after a news report that its parent company, the Japanese conglomerate SoftBank, called off talks with T-Mobile about the possible merger. It's unclear exactly what measure of control Charter would be able to exercise over Sprint, or over Softbank's other ventures and holdings.


The long-sought merger reportedly fell apart because SoftBank was unhappy with the latest terms, which would have given Deutsche Telekom majority ownership of both carriers.

Instead, Sprint CEO Marcelo Claure said today in a joint statement with T-Mobile, that even though no deal was reached, both Sprint and T-Mobile see the benefits to a combination of the two wireless operators. If the companies had struck a deal this year, they would have had a better chance of getting government approval under the Trump administration.

This isn't the first time Sprint has tried to acquire T-Mobile, and it may not be the last.

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