Tuesday, 25 September, 2018

Mobile and Sprint merger happening

A Sprint- T Mobile merger deal may be agreed upon next week T-Mobile and Sprint making progress, merger agreement could come as early as next week
Steve Townsend | 28 April, 2018, 16:23

Three years later, Sprint called off its own negotiations with T-Mobile over the same concerns.

Sprint shares ended up 8.3 percent at $6.50 on the news first reported by Reuters, close to where the deal values the company based on the implied stock exchange ratio tied to T-Mobile's shares.

T-Mobile, the last carrier left standing from Washington state's decadeslong pioneering role in the wireless industry, could announce as soon as this weekend a deal to almost double in size. Talks between Deutsche Telekom and Japan's SoftBank Group Corp 9984.T , Sprint's controlling shareholder, could still end unsuccessfully at the last minute, the sources added.

Today it was reported that Sprint & T-Mobile will officially announce a $26 billion dollar merger next week. Meanwhile, Deutsche Telekom is part-owner of T-Mobile, holding just under two-thirds of the company. Those talks unraveled, however, after Deutsche Telekom and Sprint parent SoftBank, led by Japanese billionaire Masayoshi Son, could not agree on terms. Furthermore, Reuters reports that the companies are in the process of actually finalizing all of the terms right now. That would still put the company behind Verizon and AT&T, which have an estimated 150 million and 141 million customers, respectively, but it sure would make things a whole heck of a lot more competitive. Still, a deal of this scale could still fall apart and would be subject to regulation - with significant worldwide ownership of both companies (Softbank for Sprint, and Deutsche Telekom for T-Mobile). If a deal is announced, the big question will be whether it can get regulatory approval.

Romaine lettuce contaminated with E.coli triggers recall
Multiple national agencies instituted a blanket ban on romaine lettuce almost a week ago. Three more states have reported ill people: Mississippi, Tennessee and Wisconsin.


A merger of this size will face tough scrutiny especially from the Department of Justice.

A combined business could certainly offer new headaches for market leaders AT&T and Verizon, who have been struggling to deal with the momentum of T-Mobile and the magenta army already.

Comcast's Xfinity Mobile has 577,000 customers so far after launching past year, Comcast executives said this week on an earnings call.

But the companies evidently believe a merger is necessary to address future investment and competition challenges. This signals US regulators' growing concern about consumer prices.

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