T-Mobile and Sprint End Merger Discussions
November 04 2017 - 1:59PM
Business Wire
Companies put an end to the extensive
speculation around a transaction
T-Mobile (NASDAQ: TMUS) and Sprint (NYSE: S) today jointly
announced that they have ceased talks to merge as the companies
were unable to find mutually agreeable terms.
“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. However, we
have been clear all along that a deal with anyone will have to
result in superior long-term value for T-Mobile’s shareholders
compared to our outstanding stand-alone performance and track
record,” said John Legere, President and CEO of T-Mobile US, Inc.
“Going forward, T-Mobile will continue disrupting this industry and
bringing our proven Un-carrier strategy to more customers and new
categories – ultimately redefining the mobile Internet as we know
it. We’ve been out-growing this industry for the last 15
quarters, delivering outstanding value for shareholders, and
driving significant change across wireless. We won’t stop now.”
Sprint President and CEO and Softbank Board member Marcelo
Claure said: “While we couldn’t reach an agreement to combine our
companies, we certainly recognize the benefits of scale through a
potential combination. However, we have agreed that it is best to
move forward on our own. We know we have significant assets,
including our rich spectrum holdings, and are accelerating
significant investments in our network to ensure our continued
growth. As convergence in the connectivity marketplace continues,
we believe significant opportunities exist to establish strong
partnerships across multiple industries. We are determined to
continue our efforts to change the wireless industry and compete
fiercely. We look forward to continuing to take the fight to the
duopoly and newly emerging competitors.”
About T-Mobile US, Inc.:
As America's Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is
redefining the way consumers and businesses buy wireless services
through leading product and service innovation. Our advanced
nationwide 4G LTE network delivers outstanding wireless experiences
to 70.7 million customers who are unwilling to compromise on
quality and value. Based in Bellevue, Washington, T-Mobile US
provides services through its subsidiaries and operates its
flagship brands, T-Mobile and MetroPCS. Our filings with the SEC,
including our most recently filed Annual Report on Form 10-K,
describe risks that could affect our future results. For more
information, please visit http://www.t-mobile.com.
About Sprint:
Sprint (NYSE: S) is a communications services company that
creates more and better ways to connect its customers to the things
they care about most. Sprint served 54 million connections as of
Sept. 30, 2017 and is widely recognized for developing, engineering
and deploying innovative technologies, including the first wireless
4G service from a national carrier in the United States; leading
no-contract brands including Virgin Mobile USA, Boost Mobile, and
Assurance Wireless; instant national and international push-to-talk
capabilities; and a global Tier 1 Internet backbone. Sprint has
been named to the Dow Jones Sustainability Index (DJSI) North
America for the past five years. You can learn more and visit
Sprint at www.sprint.com or www.facebook.com/sprint and
www.twitter.com/sprint.
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version on businesswire.com: http://www.businesswire.com/news/home/20171104005056/en/
Media ContactsT-Mobile US Media
RelationsMediaRelations@T-Mobile.comorSprint Media RelationsDave
TovarDavid.Tovar@sprint.comorInvestor ContactsNils
PaellmannNils.Paellmann@T-Mobile.comorJud
HenryInvestor.Relations@Sprint.coom
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