Telecom Stocks Sag After Sprint-T-Mobile Merger Talks Reportedly End
- Author: Darren Santiago Oct 31, 2017,
Oct 31, 2017, 0:34
And T-Mobile has been concerned about price, specifically ratio of shares, relates Faber.
Shares in Sprint and T-Mobile fell sharply Monday following a Japanese media report that merger talks between the third- and fourth-largest wireless operators had been called off. Meanwhile, several members of SoftBank's board have raised concerns about giving up control of the USA wireless business, another person said. While SoftBank initially approved this setup, the company's board decided at a meeting Friday that they would not give up control after all.
However, Faber says sources at T-Mo tell him the company "continue to have talks with counterparts on the Sprint side", and that today's Nikkei report was a "surprise" to them.
Assuming that the report is true, it signals the end of months of rumors about a potential merger between the two networks.
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Deutsche Telekom and T-Mobile declined to comment.
SoftBank could approach Deutsche Telekom, T-Mobile's owner, as early as Tuesday to propose ending the negotiations, Nikkei reported.
A merger between Sprint and T-Mobile would have created a company with more than 130 million US subscribers, just behind Verizon Communications Inc VZ.N and AT&T Inc T.N . Under former President Barack Obama's administration, officials fended off a previous attempt by SoftBank to merge Sprint with T-Mobile. SoftBank and DT had previously agreed to a framework that would've combined the two carriers, but the sticking point comes at the ownership share each would hold.