Sprint, T-Mobile Talks Collapse As SoftBank's Masayoshi Son Goes Alone

Sprint, T-Mobile Talks Collapse As SoftBank's Masayoshi Son Goes Alone

Sprint, T-Mobile Talks Collapse As SoftBank's Masayoshi Son Goes Alone

The wireless carriers "were unable to find mutually agreeable terms" and want to "put an end to the extensive speculation around a transaction", they said in a joint announcement.

With merger talk officially through, that means T-Mobile and Sprint will have to revisit their position in a marketplace where Verizon and AT&T dwarf their wireless subscriber totals.

Sprint President and CEO Marcelo Claure said that "while we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".

Shares of Sprint and T-Mobile tumbled Monday after rumors emerged that merger talks between the two companies were fizzling.

"We've been out-growing this industry for the last 15 quarters, delivering outstanding value for shareholders, and driving significant change across wireless", T-Mobile CEO John Legere said in the joint statement. However, we have agreed that it is best to move forward on our own.

Sprint Corp (S.N) and T-Mobile US Inc (TMUS.O) said on Saturday they have called off merger talks to create a stronger USA wireless to rival market leaders, leaving No. 4 provider Sprint to engineer a turnaround on its own.

Sprint and its owner, the Japanese conglomerate SoftBank, have always been looking for a deal as the company has struggled to compete on its own.

SoftBank plans to boost its stake in Sprint, already above 80%, by acquiring shares in the open market, people familiar with the matter said, though it won't seek full control.

T-Mobile has been particularly aggressive - and successful - in challenging its two larger rivals. Now sources are back saying that T-Mobile is scrambling to save the deal, and that it has sent revised terms to Sprint in hopes that something can be worked out.

Son met with Trump the month before he took office to talk up an investment in US businesses.

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