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05 November 2017, 01:38 | Camille Rivera
T-Mobile Sprint merger may be saved with last minute compromise
T-Mobile and Sprint - after months of negotiations - have ended their talks on a proposed merger, announcing in a jointstatement Saturday that they were "unable to find mutually agreeable terms".
Sprint's previously explored deal with T-Mobile would most likely be completely off the table, should talks between Charter and Softbank take off. Nonetheless, Claure said that "we have agreed that it is best to move forward on our own".
It's possible that the two sides will come to an agreement within weeks, claims today's report.
It comes as Sprint has somewhat struggled in an increasingly competitive United States mobile market.
T-Mobile Chief Executive John Legere spoke with Sprint Chief Executive Marcelo Claure on Wednesday, after a T-Mobile board meeting in NY where directors agreed to renew their overtures to Sprint to keep the deal alive, the report said.
Son met with Trump the month before he took office to talk up an investment in US businesses. While Deutsche Telekom would have preferred a deal, T-Mobile still has its unconventional CEO John Legere at the helm, ready to continue taking the fight to Verizon and AT&T.
Both companies had expressed interest in a tie-up this year, and industry analysts expected T-Mobile to have more leverage in discussions this time around. It slipped behind T-Mobile to become the country's fourth biggest mobile provider, and has a significant amount of debt.
Deutsche Telekom representatives were believed to visit SoftBank's Masa Son this weekend, sources told CNBC.
Reports suggest that a major hurdle to the merger wasn't Sprint or T-Mobile directly, but rather the their ownership. But President Donald Trump has also made populist comments on antitrust and prioritized job creation as a key platform.
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