After endless speculation, T-Mobile has confirmed that it was indeed in merger talks with Sprint. The catch is that it confirmed this while in the process of saying they have officially come to an end.
T-Mobile issued a brief statement on Saturday saying the talks have been called off and the companies will be going their separate ways. “The prospect of combining with Sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders. However, we have been clear all along that a deal with anyone will have to result in superior long-term value for T-Mobile’s shareholders compared to our outstanding stand-alone performance and track record,” said John Legere, President and CEO of T-Mobile US, Inc.
In typical Legere fashion, he spun it as good news saying, “Going forward, T-Mobile will continue disrupting this industry and bringing our proven Un-carrier strategy to more customers and new categories – ultimately redefining the mobile Internet as we know it. We’ve been out-growing this industry for the last 15 quarters, delivering outstanding value for shareholders, and driving significant change across wireless. We won’t stop now.”
Rumors had it that the parent companies – Softbank for Sprint and Deutsche Telekom for T-Mobile – couldn’t reach an agreement over which would hold the controlling interest.
The merger was sure to face a battery of question from the U.S. government as it would have seen two of the four largest carriers merging. For now, it seems we will continue with four separate carriers at the top of the leaderboard.