Mobile, Sprint Call Off Merger Talks

T-Mobile US CEO John Legere and his executive team announce Un Carrier 12.0 from the company's Bellevue

Sprint Corp (S.N) and T-Mobile US Inc (TMUS.O) said on Saturday they have called off merger talks to create a stronger USA wireless to rival market leaders, leaving No. 4 provider Sprint to engineer a turnaround on its own. But, he continued, "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".

T-Mobile and Sprint are the third- and fourth-largest United States wireless carriers but they are significantly smaller than AT&T and Verizon, who effectively have a duopoly over U.S. wireless service.

The companies issued a joint statement Saturday, after a week of speculation, saying they "have ceased talks".

Sprint and its owner, the Japanese conglomerate SoftBank, have always been looking for a deal as the company has struggled to compete on its own.

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The companies expected to have a better shot at the merger this year under the Trump administration.

Although it has cut its costs, Sprint is saddled with considerable debt and has endured numerous annual losses. With its hoard of 2.5GHz high-frequency spectrum, Sprint would have been a ideal fit for T-Mobile and its cache of low-frequency airwaves in the 600MHz-700MHz bands.

T-Mobile has seen growth in customer numbers in recent years, which many view as a reward for pioneering more customer-friendly options such as dropping two-year contracts, The Associated Press reports. Consumers are paying less for cellphone service, thanks to T-Mobile's influence on the industry and the resultant price wars.

T-Mobile US Inc. and Sprint Corp. were reportedly on the verge of inking a deal in September, but rumors have been swirling over the last couple of weeks that negotiations had stalled.

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