Sprint abandons bid for T-Mobile - report

Nieuws Mobiel Verenigde Staten 6 AUG 2014
Sprint abandons bid for T-Mobile - report
Sprint has abandoned plans for a merger with its closest rival T-Mobile US, the Wall Street Journal reports citing people familiar with the matter. The company has decided to end its pursuit of T-Mobile in the face of stiff opposition from regulators, the board decided on 05 August. 

When Sprint executives met with the FCC to discuss the deal last winter, they were given the signal that a deal would face high hurdles. Last week, the FCC underlined its opposition by saying it would propose rules that would prevent Sprint and T-Mobile from bidding together in the upcoming spectrum auction. 

Sprint will now continue independently, focusing on its recent network upgrades and new price plans planned for later this year. According to various reports, the operator will also get a new CEO, the head of Brightstar, Marcelo Claure.


 

Categories:

Mobiel

Companies:

Sprint,  Brightstar,  FCC,  T-Mobile US

Countries:

Verenigde Staten

Tags:

M&A buyouts & divestments

Related Articles

VERENIGDE STATEN 20 SEP 2017

Sprint, T-Mobile US 'actief in gesprek' over fusie - CNBC

De Amerikaanse providers Sprint en T-Mobile US zouden 'actieve gesprekken' voeren over een mogelijke fusie. Dat meldt althans CNBC op basis van bronnen die bekend zijn met de plannen. Volgens de plannen zou het gaan om een 'all-stock deal' waarbij het moederbedrijf van T-Mobile US, Deutsche Telekom, een controlerend belang verwerven in Sprint. Sprint is een dochteronderneming van de Japanse provider Softbank, dat in 2012 een belang van 70 procent in Sprint nam. Volgens de bronnen zullen de onderhandelingen

VERENIGDE STATEN 3 OCT 2014

FCC gets 80 applications for AWS-3 auction

The Federal Communications Commission (FCC) said it has received 80 applications for Auction 97, scheduled to start on 13 November. The auction will offer AWS licenses in the 1695-1710 MHz, 1755-1780 MHz and 2155-2180 MHz bands (AWS-3). Of the applications received, 33 were complete and 47 incomplete. All participating companies must pay the required deposit by 15 October. The regulator plans to release the final list of all qualified bidders in early November. It will then also give details of the bidding

VERENIGDE STATEN 29 AUG 2014

DT wants at least USD 35/share for T-Mobile US - report

Deutsche Telekom is willing to negotiate a sale of T-Mobile US with valuation of at least USD 35 a share for the mobile operator, a person with knowledge of the matter told Bloomberg. At a strategy meeting in Berlin 28 August, Deutsche Telekom senior managers discussed USD 35-40 as a realistic range of valuations for T-Mobile that could trigger neogitations, the report said. The German operator earlier rejected an offer worth USD 33 per share from France's Iliad and hasn't received a higher bid, according t

VERENIGDE STATEN 13 AUG 2014

Sprint unveils new business brand, marketing campaign

Sprint has introduced a new business brand and multi-million dollar marketing campaign which focuses on how technology empowers employees. The new brand is distinct from its consumer segment and incorporates all of Sprint's business products and services. The campaign is designed to help businesses of all sizes understand and harness advanced collaboration and mobility tools to keep employees engaged, productive and collaborate better together. 

WERELD 12 AUG 2014

Brightstar revamps executive team, names Osorio as COO

Mobile phone distributor Brightstar has appointed Arturo Osorio as its president and COO, and Catherine Smith as its general counsel and chief administrative officer. Kazuhiko Fujihara will take over the position of director of SoftBank and a member of Brightstar's board of directors, effective immediately. The appointments follow the 6 August announcement of Brightstar founder Marcelo Claure as the new president and CEO of Sprint and his subsequent retirement from the Brightstar board of directors.

VERENIGDE STATEN 11 AUG 2014

Sprint to launch Samsung Galaxy Tab 4 on 15 August

Sprint has announced plans to launch the Samsung Galaxy Tab 4 7.0 on 15 August. Galaxy Tab 4 will be available in all Sprint channels, including Sprint Stores, Web Sales, Telesales at 1-800-Sprint1 and Sprint Business. With Sprint Easy Pay, well-qualified buyers can purchase Galaxy Tab 4 for zero money down and twenty-four monthly payments of USD 12.50 and requires a service plan. For a limited time, Galaxy Tab 4 customers can get a USD 10 monthly service plan credit for twenty-four months, with qualifying

VERENIGDE STATEN 7 AUG 2014

Deutsche Telekom CEO rules out Iliad bid for T-Mobile

Deutsche Telekom has rejected the offer from France's Iliad to acquire T-Mobile US. Deutsche Telekom CEO Tim Hoettges said in a conference call on the company's quarterly results that Iliad's offer did not meet the group's criteria for selling the US subsidiary, Reuters reports. "We have always said that we would be open to offers for T-Mobile US which would improve its position and that of its shareholders," Hoettges said. "At the moment, we don't have an offer which fits those criteria." This appears to r

VERENIGDE STATEN 6 AUG 2014

Sprint confirms Claure as new CEO

Sprint has confirmed the appointment of Marcelo Claure, the founder and CEO of mobile phone distributor Brightstar, as its new CEO. He will step down from Brightstar and take up the new job at Sprint from 11 August. Both Brightstar and Sprint are owned by Japan-based Softbank. Claure, 43, already joined the Sprint board of directors in January. "Marcelo is a successful entrepreneur who transformed a start-up into a global telecommunications company," said Sprint Chairman Masayoshi Son.. "He has the manageme

VERENIGDE STATEN 6 AUG 2014

Iliad in talks to raise bid for T-Mobile - report

Iliad is in talks with investors to improve its bid for T-Mobile US, amid expectations Deutsche Telekom will reject the French operator's offer as too low, three sources familiar with the matter told Reuters. Bringing in more investors would help Iliad to increase its USD 33 per share bid for a 56.6 percent stake in T-Mobile. Iliad is in talks with US TV providers including Dish Network, Cox Communications and Charter Communications, which could be interested in a joint bid for T-Mobile as they seek to ente

VERENIGDE STATEN 6 AUG 2014

Sprint staakt overnameplannen T-Mobile US

Sprint ziet af van het overnemen van de grootste concurrent T-Mobile US, schrijft the Wall Street Journal. De zakenkrant baseert zich op niet nader genoemde bronnen. Sprint zou op 5 augustus hebben besloten niet verder te gaan met de plannen als gevolg van grote oppositie vanuit regelgevende hoek. Toen de top van Sprint afgelopen winter gesprekken voerde met de FCC, kregen ze signalen dat een overname op grote bezwaren zou kunnen stuiten. Vorige week kwam daarbij dat de FCC van plan is nieuwe regels op te n

VERENIGDE STATEN 6 AUG 2014

T-Mobile rejects Iliad request for due diligence - report

T-Mobile US has rejected Iliad's request for access to the US operator's books after determining that the French company's proposed USD 15 billion bid wasn't strong enough, people familiar with the matter told the Wall Street Journal. Iliad sought access to its confidential financial information in order to conduct due diligence toward a formal offer. Unless Iliad improves its terms, however, T-Mobile doesn't intend to grant the French company's request, the report said. One of the people familiar with the

VERENIGDE STATEN 5 AUG 2014

Deutsche Telekom doubtful of Iliad bid for T-Mobile - report

Deutsche Telekom has serious doubts about the bid by French operator Iliad for T-Mobile US, two people close to the German operator told Reuters. One of the sources said Iliad's offer was "not serious enough to walk away from Sprint/Softbank". Sprint, T-Mobile's closest rival, and Softbank, Sprint's parent company since last year, have reportedly been pursuing a deal with Deutsche Telekom for some months. They were thought to be close to an agreement. Sprint has been planning an offer that values T-Mobile a

VERENIGDE STATEN 31 JUL 2014

France's Iliad makes takeover bid for T-Mobile US

French operator Iliad, known under the brand Free, has made a takeover bid for T-Mobile US. The surprise offer marks Iliad's first expansion outside its home market, where it first broke open the triple-play market and then drove down prices in the mobile market by becoming the fourth network operator. Iliad said T-Mobile's 'unCarrier' strategy has many similarities to its own development in France. The French company is offering USD 15 billion for 56.6 percent of T-Mobile US, equal to USD 33.0 per share. I

VERENIGDE STATEN 30 JUL 2014

Sprint, T-Mobile US merger won't happen before Sept - report

The proposed Sprint and T-Mobile US is not expected to happen before September, with the companies continuing due diligence and preparing a case for a deal before US regulators, according to people familiar with the matter, reported Reuters. 

VERENIGDE STATEN 16 JUL 2014

Sprint, T-Mobile consider joint spectrum bid - report

Sprint and T-Mobile US are working on a plan to raise around USD 10 billion to bid jointly in the next major spectrum auction in the US, people familiar with the matter told the Wall Street Journal. The companies, which have been discussing a possible merger since last year, are planning to form a joint venture that will bid in the 2015 auction of frequencies turned in by broadcasters, the report said. The funds are part of the around USD 45 billion financing package being put together by SoftBank to financ

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.