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SoftBank reportedly walking away from Sprint/T-Mobile merger talks

31 October, 2017, 00:34 | Author: Paula Vaughn
  • The Verge

Several SoftBank directors urged the Japanese company's Chief Executive Masayoshi Son on Friday to reconsider the merger of Sprint and T-Mobile because the terms being discussed would result in SoftBank losing control of one of its most prized assets, the source said. As such, the talks were called off.

While merger talks have been underway for months, SoftBank board members raised their concerns in the last few days because it's now a make-or-break moment, with the sides very close to a deal, the person familiar with the matter said.

Investors have cheered on a combination of T-Mobile, the third-largest US wireless carrier, with No. 4 Sprint as a way to cut costs and forge a bigger competitor to take on AT&T and Verizon Communications. But they trail far behind Verizon and AT&T, the two largest US carriers with 147 million and 139 million subscribers.

New Zealand run chase narrowly fails, India wins series 2-1
The run machine Kohli also brought up his 32nd ODI ton and became the first captain to smash six tons in a calendar year. He faced 138 balls and hit 18 fours and two sixes. "But, unfortunately, today we couldn't get over the line".

Deutsche Telekom and T-Mobile declined to comment. But the idea was abandoned after opposition from antitrust regulators, who thought only having three major wireless carriers would reduce competition and hurt consumers.

Nikkei reported Monday that Sprint and T-Mobile planned to end merger talks.

Jennifer Fritzsche of Wells Fargo wrote in a research note that SoftBank's "purposeful decision to walk away speaks loudly to the fact that Sprint's back is not against the wall". AT&T struck a $39 billion deal to acquire T-Mobile in 2011, but terminated it after facing the same objections from the Federal Communications Commission and Department of Justice.

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