1. Akshay Masand's Avatar

    According to The Wall Street Journal, Sprint appears to be abandoning its plans to purchase T-Mobile USA. The wireless carrier and its parent company, Softbank, believe it would be too hard to gain the regulatory approval required for the deal to go through. The official announcement is said to be made soon.

    For those of you who didn’t already know, news of Sprint working on a potential acquisition of T-Mobile USA originally surfaced last December. The $20 billion deal would have been subject to a large amount of regulatory scrutiny though. The US Department of Justice even met with Sprint board members and expressed concerns regarding the merger. According to the US antitrust authorities, four national carriers were needed to maintain a competitive market; therefore the merger was not one that was condoned.

    According to the folks over at Bloomberg, Sprint will also be announcing a new CEO in the near future as the current CEO, Dan Hesse, is set to be replaced following the failed merger. This appears to be the second time a T-Mobile purchase has fallen through. Previously, AT&T attempted to acquire T-Mobile but the deal fell through after the FCC and the Department of Justice blocked it.

    Source: Bloomberg, The Wall Street Journal

    Twitter: @AkshayMasand
    2014-08-07 01:34 AM
  2. Jozelito617's Avatar
    Sprint buying tmobile **** that be great!!! Awesomeness!!! T-mobile has close signal to verizon well here in boston .. Sprint suckz I have it but my wife has t-mobile always 5 bars... Good cheap plan .. Everything unlimited for that I'm paying.. Lil to much .. O well

    Sent from my iPhone using ModMyi
    2014-08-07 02:11 AM
  3. mrbaker1979's Avatar
    Thank goodness. I couldn't foresee anything good out of that merger.
    2014-08-07 05:52 AM
  4. steve-z17's Avatar
    Saw this coming a mile away...
    2014-08-07 05:59 AM
  5. Eonhpi's Avatar
    Shoot one one needsto buy sprint cuz it sucks .

    Sent from space
    2014-08-07 10:19 AM