Mobile and Sprint merger could be back on the table

Nov 05, 2017, 01:40
Mobile and Sprint merger could be back on the table

Just a few days after merger negotiations reportedly fell apart between Deutsche Telekom-backed T-Mobile SoftBank-owned Sprint, T-Mobile has reached out to Sprint with a revised offer, the Wall Street Journal reports.

Sprint previously abandoned a bid for T-Mobile in 2014 when it became clear that the Obama administration would block the merger in order to preserve the competition created by having four major nationwide carriers.

T-Mobile and Sprint - after months of negotiations - have ended their talks on a proposed merger, announcing in a joint statement Saturday that they were "unable to find mutually agreeable terms".

Sprint has sought to strengthen its balance sheet by cutting costs.

T-Mobile, meanwhile, has been on a yearslong streak adding customers. The two sides could reach a deal within weeks, but the two companies could still fail to agree on deal terms. 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. With the new Trump administration, it was thought regulators might be more relaxed. But no deal was announced immediately following the conclusion of a ban on merger talks in April that was associated with a USA government auction of wireless airwaves.

A source told Reuters in July that SoftBank was considering an acquisition offer for Charter in a deal where it would combine the cable company with Sprint.

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

It is still possible that Sprint will reject the new terms or decline investing any more effort into the potential merger.

Industry executives have expressed optimism about the prospect of consolidation on earnings calls.

YOU MIGHT ALSO LIKE
  • 'Veronica Mars' actor Brad Bufanda dead at 34

    'Veronica Mars' actor Brad Bufanda dead at 34

    Bufanda also trained as a professional basketball player, Variety reported , but returned to acting following an injury. His breakout role was in the cult teen series, Veronica Mars where he played a biker gang member, Felix Toombs .
    NYPD gathering evidence to arrest Harvey Weinstein

    NYPD gathering evidence to arrest Harvey Weinstein

    She has publicly accused Weinstein of raping her twice in her apartment in 2010 and called police about it on October 26. She described the alleged encounter: "He pushed me onto the bed and his trousers were down and he lifted up my skirt".
    USA  sets final tariffs on softwood lumber from Canada

    USA sets final tariffs on softwood lumber from Canada

    The department also believes Canada had unfairly subsidized the lumber exports at between 3.3 percent and 18.2 percent. If the ITC agrees with Thursday's decision, the Commerce Department will issue orders to collect the duties.
  • Saudi-led coalition denies targeting a market in Yemen

    Saudi-led coalition denies targeting a market in Yemen

    Saudi air defence forces were quoted by broadcaster Al-Arabiya as saying they intercepted the missile north-east of the capital. According to videos published on social media, smoke could be seen rising near Riyadh's King Khalid International Airport.
    U.S.  carries out first airstrikes against ISIS in Somalia

    U.S. carries out first airstrikes against ISIS in Somalia

    Photo President Trump said on Twitter that his administration had attacked the Islamic State "much harder" over the past two days. These are the first American military strikes against ISIS, which has developed a small presence in the Horn of Africa.
    Linking Aadhaar with mobile number must by February 6, says Centre

    Linking Aadhaar with mobile number must by February 6, says Centre

    Justice Sikri jokingly said that even he receives calls and messages asking him to link his accounts with Aadhaar. The apex court has left the decision on a constitutional bench that will decide on this matter later this month.
  • Facebook Reports $10.3 Billion in Revenues

    Facebook Reports $10.3 Billion in Revenues

    Lawmakers criticized Facebook for not doing more to stop Russians from interfering in American political discourse. These workers won't all be full-time at Facebookand will include contractors.
    'La Bamba' Star Lou Diamond Phillips Arrested for DWI

    'La Bamba' Star Lou Diamond Phillips Arrested for DWI

    Despite the attest, the La Bamba actor doesn't plan on cancelling a speaking engagement in Corpus Christi later in the day. The event will still go on as planned said Jay Ellington, director of the Corpus Christi Parks and Recreation Department.
    Ashish Nehra believes India's future is bright under Virat Kohli's leadership

    Ashish Nehra believes India's future is bright under Virat Kohli's leadership

    Many people asked me if you would have liked to play more Test cricket. "The game has changed a lot since I started playing". Nehra , who never lost to the conditions, bowled 10 overs in the match and this was proved to be his best ODI performance.
  • The Weeknd Adopts a Dog Post-Breakup from Selena Gomez

    The Weeknd Adopts a Dog Post-Breakup from Selena Gomez

    TMZ reports that Selena's parents were anxious about their daughter re-connecting with Bieber , because of course they were. It certainly looks like the "prospect" of them getting back together is actually turning out to be a real thing.
    Qualcomm up after rumor of Broadcom interest

    Qualcomm up after rumor of Broadcom interest

    Qualcomm may soon be extended a way out courtesy of Broadcom , which itself supplies Apple with Wi-Fi and Bluetooth combo chips. Based on 2016 revenue, the enlarged company would be the world's third-largest chipmaker behind Intel and Samsung Electronics.
    Iraqi Forces Enter al-Qaim in 'Last Big Fight' against ISIS

    Iraqi Forces Enter al-Qaim in 'Last Big Fight' against ISIS

    On the other side of the border, Syrian regime forces are now around 30 kilometres (18 miles) from Albu Kamal. The militants still hold about a third of the province, including the border town of Bukamal.
popular