Report: Sprint and SoftBank rethink T-Mobile bid2014-02-11 09:52 by DanielaTags: Sprint, Softbank, T-Mobile
According to a recent report from the Wall Street Journal, executives at Sprint and SoftBank are reconsidering their plans to attempt a merger between T-Mobile US and Sprint despite of the significant regulatory opposition to the proposed transaction. Sprint Chairman Masayoshi Son and Chief Executive Dan Hesse met in early February with FCC head Tom Wheeler, who according to reports said he was skeptical that such a deal could keep the current amount of competition in the wireless industry intact-but that he would keep an open mind to new arguments. The plan now, sources told the Journal, is to let the message they're hearing "sink in." If they do decide to still move ahead, "they could take weeks or more to ponder strategy and perfect their regulatory arguments," said the report. Sprint's main argument to support the merger is that only merging with T-Mobile will allow the carrier to better fight the competition (AT&T and Verizon), which control more than two-thirds of the U.S. industry's customers. No word as yet on when an official bid is going to be made. Read more -here-
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