Will the Sprint and T-Mobile Merger Finally Happen?

Sprint Corp surges on reports of T Mobile merger talk

Sprint Corp surges on reports of T Mobile merger talk

In May, a Bloomberg report, citing sources, said that executives at Sprint had "informal contact" with T-Mobile about a possible merger. Now, if a report out of CNBC is to be believed, things are heating up once again.

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Sprint and T-Mobile have been doing the corporate mating dance for the last few years, even reportedly agreeing to a $32 billion merger in January, only to have it fall apart. The two sides haven't even agreed on an exchange ratio, signaling just how much work remains.

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Both companies have declined to comment on the matter. Surely, that deal would have put SoftBank in control of the new, merged company to leave Deutsche Telekom as a minority shareholder. As reported, T-Mobile has yet to complete any due diligence on Sprint, and to further complicate the situation, heavy thought must be put into whether antitrust regulators would allow for the #3 and #4 ranked USA carriers to merge. Sprint is up 56 cents (7.29%) to $8.24, while T-Mobile was up $3.32 (5.36%) to $65.10 in late trading today.

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CNBC noted that the companies are still weeks away from finalizing a deal and the deal may or may not materialize. Chairman of Sprint-owner SoftBank, Masayoshi Son, and Deutsche Telekom Chief Executive Tim Hoettges, which owns T-Mobile, told investors following the hold to expect talk of industry consolidation, and T-Mobile said it expected to be involved. Regulators will need to approve this deal, and it's something that both SoftBank and Deutsche Telekom will want to gauge before it makes a deal official. "Whether both operators can get to a meeting of the minds on whether an attempt makes sense is of course the critical first question". T-Mobile, led by its charismatic president and CEO John Legere, has become the most innovative of the four.

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