Sprint no longer interested in buying T-Mobile?
Sprint and T-Mobile are like the middle school lovers that keep sending each other indirect comments of getting together. We have all noticed the constant flirting, but lately it seemed this merger was turning into something serious. Recent rumors stated the merger was soon to be finalized, with a possible conclusion coming September. We were already assuming prices might be slashed, but it seems the only thing being axed is the merger.
A new report from The Wall Street Journal sources “people familiar with the matter”, stating Sprint is no longer bidding to acquire good ol’ T-Mobile. The reason? Regulators, which would be too difficult to get an approval from (or so they believe). This could be a hassle, especially considering some rumors of T-Mobile looking for a $1 billion fee from Sprint if the deal shall not be passed.
This comes as shocking news, after going through countless months of negotiations. It may also be an annoying situation for Deutsche Telekom, which has been looking to sell T-Mobile for quite some time now. Sprint may not be T-Mobile’s last resource, though. Recent rumors claim French company Iliad has also offered $15 billion in cash, which pales in comparison to Sprint’s rumored $40 billion offer. Of course, T-Mobile is said to reject this offer.
These are still all rumors and the future is uncertain, so take it all with a healthy dose of salt. But even if this story is never to reach a happy ending, Bloomberg reports Dan Hesse will be replaced, with an announcement coming as soon as tomorrow. It’s said the deal would make T-Mobile CEO John Legere the captain of the merged ship, though. It seems it was Hesse’s last days, anyways.
It seems it was Hesse's last days, anyways.