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Potential T-Mobile And Sprint Merger Falls Apart

Potential T-Mobile And Sprint Merger Falls Apart

It comes as Sprint has somewhat struggled in an increasingly competitive USA mobile market.

In a joint statement, the third- (T-Mobile) and fourth-largest (Sprint) wireless carriers in the USA explained that they were unable to agree on the terms of a deal.

But none of those rumors were confirmed by the companies' chief executives. Claure, the Sprint CEO, is also a member of SoftBank's board.

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T-Mobile has made a revised merger offer to Sprint, say sources speaking to the Wall Street Journal.

John Legere, president and CEO of T-Mobile US, Inc., added, "The prospect of combining with Sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders".

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.

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"While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination". It's unclear exactly what measure of control Charter would be able to exercise over Sprint, or over Softbank's other ventures and holdings. Nonetheless, Claure said that "we have agreed that it is best to move forward on our own".

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.

In December, SoftBank CEO Masayoshi Son met at Trump Tower with then-President-elect Donald Trump, rekindling speculation that SoftBank would renew merger efforts under a Republican administration.

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Bellevue, Washington and Overland Park, Kansas - November 4, 2017 - T-Mobile (NASDAQ: TMUS) and Sprint (NYSE: S) today jointly announced that they have ceased talks to merge as the companies were unable to find mutually agreeable terms. "We won't stop now".