SoftBank might stop the merger between T-Mobile and Sprint

Since T-Mobile has over 10 million more USA phone subscribers than Sprint, it had been widely assumed that the combined company would primarily be owned by Deutsche Telekom, T-Mobile's parent company.

Shares in all four major wireless carriers were down as a result of the news-Sprint stock plummeted nine percent and T-Mobile was down five percent.

Another report from earlier this month claimed that the two companies were in the final stages of an agreement, and an announcement would come by the end of October.

SoftBank Group Corp's 9984.T board of directors is having doubts about the merger it has been negotiating between its USA wireless subsidiary Sprint Corp S.N and T-Mobile US Inc TMUS.O , due to fears of losing control of a combined entity, a source familiar with the matter told Reuters on Monday.

The German parent had insisted on a controlling stake, according to a source familiar with the situation.

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We've reached out to SoftBank, Sprint and T-Mobile for comment. "But SoftBank's board discussed at a meeting Friday that the company would not give up control".

Both Sprint and T-Mobile skipped out of earnings calls last week, reportedly to avoid talking about the merger.

A few weeks later, T-Mobile CEO John Legere said he was open to "various forms of consolidation" when asked about a potential merger with Sprint and SoftBank under the Trump administration.

Apart from offering free Netflix streaming to subscribers (as T-Mobile has done), the two second-tier telcos have not made their presence felt in streaming video. Meanwhile, it appears the merger of America's third- and fourth-largest carriers remains in limbo.

(Copyright © 2015. All Rights Reserved.)
 
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