SoftBank to halt Sprint's T-Mobile merger talks2017-10-30 15:55 by Daniela
Tags: Softbank, Sprint, T-Mobile
After months of rumors about a potential merger between Sprint and T-Mobile, it turns out that a deal may never be struck.
According to Nikkei Asian Review, SoftBank Group Corp's board of directors is having doubts about the merger it has been negotiating between its U.S. wireless subsidiary Sprint Corp and T-Mobile US Inc, due to fears of losing control of a combined entity.
SoftBank could approach Deutsche Telekom, T-Mobile's owner, as early as Tuesday to propose ending the negotiations. Deutsche Telekom wanted a controlling stake in the combined company, but SoftBank's board agreed Friday that it preferred to retain control.
Sprint shares sank as much as 13 percent in New York trading, while T-Mobile fell as much as 5.9 percent. The companies had been ironing out final terms of the merger in the hopes of announcing a deal in mid- to late November.
Read more -here-