Sprint Chairman Says Carrier Still Interested in T-Mobile Purchase
March 10, 2014 2:11 PM
comment(s) - last by
He wants a fair fight with Verizon and AT&T
Japan's SoftBank Corp., which owns Sprint Corp., has mentioned its
interest in acquiring T-Mobile
before. The problem is potential government scrutiny of such a deal, but SoftBank CEO and Sprint Chairman Masayoshi Son has confirmed that he's still up for trying.
The Wall Street Journal
, Son said in a TV interview Monday that Sprint should purchase T-Mobile so that Verizon and AT&T -- the top two carriers in the U.S. -- have solid competition to keep them in check.
"I would like to have the real fight, OK? Not the pseudo fight, the real fight," said Son.
Son went on to say that he would like to see a deal happen, but recognizes that there are "steps and details" that need to be worked out first. There is currently no formal agreement between Sprint and T-Mobile.
A December 2013 report from
The Wall Street Journal
indicated Sprint's interest in T-Mobile, saying that such a deal could be worth
more than $20 billion USD
Masayoshi Son [SOURCE: Retuers]
However, such a merger is likely to face tough criticism from the U.S. Federal Communications Commission (FCC) and the U.S. Department of Justice (DOJ). The two killed off
AT&T's attempt to acquire T-Mobile
for $39 billion USD back in 2011, saying the deal could hurt competition in the U.S. wireless industry.
While SoftBank feels Sprint and T-Mobile are both too small to compete with Verizon or AT&T individually, the number of subscribers could hurt such a merger. T-Mobile currently has 45 million customers, Sprint has around 54 million subscribers, AT&T has 76.2 million subscribers and Verizon Wireless has 96.2 million customers.
Sprint is about midway between T-Mobile and AT&T in subscribers, so it could see some scrutiny for trying to purchase T-Mobile the way AT&T did.
Also, the potential merger has received criticism because T-Mobile is utilizing its "UnCarrier" strategies to offer better services to customers, such as paying up to
$350 in early termination fees
offering free roaming
for unlimited international text and data. Some worry that a deal with Sprint would stop T-Mobile from shaking up the industry with better deals.
Still, Son said Sprint has to "give it a shot."
The Wall Street Journal
This article is over a month old, voting and posting comments is disabled
3/14/2014 7:42:03 AM
If you can't beat them, buy them out of business.
I just switched to t-mobil from Big Red, and couldn't be happier.
"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer
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