The will-they-won't-they status of a long-rumored T-Mobile-Sprint merger continues, as the two companies are reportedly continuing negotiations following reports earlier this week that talks had broken down.
But none of those rumors were confirmed by the companies' chief executives.
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T-Mobile Chief Executive John Legere spoke with Sprint Chief Executive Marcelo Claure on Wednesday, after a T-Mobile board meeting in NY where directors agreed to renew their overtures to Sprint to keep the deal alive, the report said. At this point, talk of a merger is between Softbank and Charter, rather than having direct involvement with Sprint.
"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". Its wide portfolio and clout have made it a good fit to own and operate Sprint from above thus far, though that was not always the case; at one point, Masayoshi Son was very open about the fact that the company was losing money thanks to Sprint. Neither Sprint nor T-Mobile immediately replied to requests for comment by CNNMoney. But T-Mobile won't pursue a deal that doesn't "result in superior long-term value for T-Mobile's shareholders compared to our outstanding stand-alone performance and track record", he said. We know we have significant assets, including our rich spectrum holdings, and are accelerating significant investments in our network to ensure our continued growth.
The Wall Street Journal reports that T-Mobile and its parent company Deutsche Telekom have tweaked their offer, though the exact terms remain unclear. Claure, the Sprint CEO, is also a member of SoftBank's board. Neither company has issued official statements about these reports. With the new Trump administration, it was thought regulators might be more relaxed.
Sprint "look [s] forward to continuing to take the fight to the duopoly and newly emerging competitors", Claure said.
This isn't the first time Sprint has tried to acquire T-Mobile, and it may not be the last. "We won't stop now".