There have been rumors that both Sprint and T-Mobile were in talks about a possible merger of the two companies for some time. The companies have now official confirmed that they have been in talks and have also announced that they will not be merging.
T-Mobile CEO John Legere posted on the company’s website about the talks between the two companies. They have decided not to go ahead with the merger of Sprint and T-Mobile. You can see an official statement from him below.
“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. However, we have been clear all along that a deal with anyone will have to result in superior long-term value for T-Mobile’s shareholders compared to our outstanding stand-alone performance and track record,” said John Legere, President and CEO of T-Mobile US, Inc. “Going forward, T-Mobile will continue disrupting this industry and bringing our proven Un-carrier strategy to more customers and new categories – ultimately redefining the mobile Internet as we know it. We’ve been out-growing this industry for the last 15 quarters, delivering outstanding value for shareholders, and driving significant change across wireless. We won’t stop now.”
So it would appear that the two companies were not able to come to an agreement that would work for both of them. You can find out more details over at T-Mobile at the link below.