Charter says it doesn't want to merge with Sprint2017-07-31 13:11 by Daniela
Tags: Charter, Sprint
Masayoshi Son, the chairman of Japanese tech giant SoftBank Group Corp., through his Sprint Corp. has proposed a merger with Charter Communications Inc. that would create a media and communications giant.
By combining, the companies could offer a full suite of telecommunications services to customers, from home broadband internet to wireless plans, and compete head-to-head with the packages sold by phone giants AT&T Inc. and Verizon Communications Inc.
However, Charter has shot down a plan for it to buy Sprint and create a media and telecom giant. The company said it isn't interested in buying Sprint Corp., rebuffing a gigantic merger offer and potentially ending several weeks of deal talks between the media and communications companies.
"We understand why a deal is attractive for SoftBank, but Charter has no interest in acquiring Sprint," Charter said in a statement.
Charter noted Sunday that it already has a deal with Verizon to buy data allotments in bulk and resell them as wireless plans under its own brand. It said it plans to "launch wireless services to cable customers next year."
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