Sprint To Buy T-Mobile
Sprint is preparing to make an offer to buy T-Mobile
Softbank, which owns most of Sprint, will make the offer some time in June or July, according to the report. Sprint is also said to be looking to replace its CEO, Dan Hesse, and T-Mobile’s CEO John Legere is the leading candidate. Sprint has had a rough year or so. In its earnings report for the first quarter of 2014, Sprint said it lost 231,000 postpaid subscribers and 364,000 prepaid subscribers. Meanwhile, rivals like AT&T, Verizon, and T-Mobile are either growing or maintaining their subscriber bases. T-Mobile has seen a nice turnaround since Legere took over in late 2012. It stopped bleeding subscribers, finally started selling the iPhone, and made some enticing moves to get people to switch to its cheaper plans. But while Legere spends a lot of his time taking shots at AT&T, one industry insider recently told Business Insider that it’s Sprint that has really been “taking it on the chin” due to T-Mobile’s attempts to lure subscribers away from rivals. Even if Softbank does end up making an offer for T-Mobile, the deal isn’t guaranteed to go through. There are a lot of legal hurdles the two carriers would have to go through with the Justice Department and the FCC to make sure the merger wouldn’t hurt competition in the wireless business. In 2011, AT&T attempted to buy T-Mobile, but the Justice Department quashed the deal. Representatives for both Sprint and T-Mobile declined to comment.
Posted on May 1, 2014, in Business News and tagged at&t, Business News, CEO John Legere, Justice Department, news, Softbank, sprint, Sprint CEO Dan Hesse, Sprint is preparing to make an offer to buy T-Mobile, Sprint To Buy T-Mobile, t-mobile, wireless business, wireless companies, wireless industry, wireless providers. Bookmark the permalink. Comments Off on Sprint To Buy T-Mobile.