Sprint Abandons Plans to Purchase T-Mobile
Sprint is abandoning plans to purchase T-Mobile US, reports The Wall Street Journal. According to the site, Sprint and its parent company Softbank believe it would be too hard to gain regulatory approval for the deal, with Sprint planning to make an announcement on Wednesday.
Sprint Corp. is ending its pursuit of T-Mobile US, according to people familiar with the matter. The company and its parent, SoftBank Corp. decided it simply would be too difficult to win approval from regulators, the people said.
News that Sprint was working on a potential purchase of T-Mobile US first came in December of 2013, when The Wall Street Journal suggested Sprint was preparing a takeover bid. The deal, which could have been worth more than $20 billion, would have been subjected to significant regulatory scrutiny.
In fact, the United States Justice Department met with Sprint board members to discuss the deal and expressed concerns about the merger. U.S. antitrust authorities reportedly believe that having four national carriers is necessary to maintain a competitive market.
Japanese carrier Softbank purchased a 70 percent controlling interest in Sprint back in 2012, while T-Mobile is majority owned by German telecom giant Deutsche Telekom. According to Bloomberg, Sprint will also be announcing a new CEO as soon as tomorrow, as current CEO Dan Hesse is said to be out following the failed merger.
This is the second time a T-Mobile purchase has fallen through. AT&T previously attempted to acquire T-Mobile but the deal fell through after being blocked by Federal Communications Commission and the Department of Justice.
Popular Stories
Apple's iPhone 17 Pro and iPhone 17 Pro Max models will feature a number of significant display, thermal, and battery improvements, according to new late-stage rumors.
According to the Weibo leaker known as "Instant Digital," the iPhone 17 Pro models will feature displays with higher brightness, making it more suitable for use in direct sunlight for prolonged periods. The iPhone 16 Pro and...
Just one week before Apple is expected to unveil the iPhone 17 series, an analyst has shared new price estimates for the devices.
Here are J.P. Morgan analyst Samik Chatterjee's price estimates for the iPhone 17 series in the United States, according to 9to5Mac:
Model
Starting Price
Model
Starting Price
Change
iPhone 16
$799
iPhone 17
...
Apple is expected to unveil the iPhone 17 series on Tuesday, September 9, and last-minute rumors about the devices continue to surface.
The latest info comes from a leaker known as Majin Bu, who has shared alleged images of Apple's Clear Case for the iPhone 17 Pro and Pro Max, or at least replicas.
Image Credit: @MajinBuOfficial
The images show three alleged changes compared to Apple's iP...
Apple will launch its new iPhone 17 series this month, and the iPhone 17 Pro models are expected to get a new design for the rear casing and the camera area. But more significant changes to the lineup are not expected until next year, when the iPhone 18 models arrive.
If you're thinking of trading in your iPhone for this year's latest, consider the following features rumored to be coming to...
An iPhone 17 announcement is a dead cert for September 2025 – Apple has already sent out invites for an "Awe dropping" event on Tuesday, September 9 at the Apple Park campus in Cupertino, California. The timing follows Apple's trend of introducing new iPhone models annually in the fall.
At the event, Apple is expected to unveil its new-generation iPhone 17, an all-new ultra-thin iPhone 17...
We're only days away from Apple's "Awe dropping" fall event scheduled to take place on Tuesday, September 9 – and along with the new iPhone 17 series, we're going to get a new version of the Apple Watch Ultra for the first time since 2023.
By the time the Ultra 3 is unveiled, it will have been two years since the previous model arrived. The intervening period has left plenty of room for...
