Sprint has reportedly decided not to go through with its bid for T-Mobile, according to a CNBC report. The two companies have been in discussions for months over a possible deal, though reports suggested regulatory hurdles would prevent any link-up from going through. T-Mobile has been at the center of a possible acquisition for months, with France’s Iliad reportedly offering up $15 billion for the carrier as recent as last week.
In addition to Sprint’s change of heart, Bloomberg reports the carrier will also announce a new CEO as early as tomorrow. Dan Hesse, current Sprint CEO, has been at the helm since 2007, but with an increasingly dwindling subscriber base, it appears the powers that be decided it was time for him to go.
With no acquisition on the table, and the prospect of new leadership, it appears Sprint is definitely in a transition period as it looks to re-claim its statue among T-Mobile, AT&T and Verizon. Sprint actually has a surprise event planned for Aug. 19, so perhaps we’ll get a glimpse of what the future holds for the carrier then.