Mobile US, Sprint Working To Salvage Merger

With T-Mobile Deal All But Dead, Softbank Looks To Charter

Earlier this week, sources claimed SoftBank's board had chose to call off the Sprint-T-mobile merger, the reason being an inability to work out ownership terms with T-Mobile's Deutsche Telekom.

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

The failed merger could also keep wireless prices low as all four providers have been heavily discounting their cellphone plans in a battle for consumers. According to Bloomberg reports, SoftBank made an offer to buy Charter in July, but this was rejected, with Charter set to launch its own mobile services next year running on Verizon's network.

The companies' unusual step of making a joint announcement on the canceled negotiations could indicate they still recognize the merits of a merger, keeping the door open for potential future talks.

The companies said they ended talks because they "were unable to find mutually agreeable terms".

While agreeing to the appealing nature of the merger, T-Mobile's chief executive officer John Legere reiterated that his company preferred a deal that would provide what he described as "superior long-term value for T-Mobile's shareholders". One source stated that Claure was told neither Deutsche Telekom nor T-Mobile wants to lose the merger deal, and as a result Sprint's board held its own meeting yesterday. If T-Mobile and Sprint had aligned, they would collectively rise to the number three provider slot in the USA mobile market. If the companies had struck a deal this year, they would have had a better chance of getting government approval under the Trump administration.

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

Legere said that T-Mobile has "been out-growing this industry for the last 15 quarters, delivering outstanding value for shareholders, and driving significant change across wireless".

An added wrinkle was Sprint's negotiations with cable companies Comcast Corp and Charter Communications Inc. Initially, the merger seemed to be a done deal.

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