Mobile, Sprint call off merger attempt

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The telecomm giants said that they have stopped negotiating and will remain independent entities.

The companies said they ended talks after they were "unable to find mutually agreeable terms". Merger talks then seemed to break down, only to be revived again a couple days ago.

Reuters also speculated that the atypical nature of Saturday's joint statement may signify that the two companies are trying to preserve a relationship and sustain the possibility of an eventual return to talks. However, after T-Mobile CEO John Legere spoke with Sprint CEO Marcelo Claure on Wednesday, Sprint's board discussed the new offer at a meeting on Thursday. "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". We know we have significant assets, including our rich spectrum holdings, and are accelerating significant investments in our network to ensure our continued growth.

The other day, Sprint majority owner SoftBank had chose to end merger talks with T-Mobile and its majority owner Deutsche Telekomover which side would have majority control of the combined firm. Sources had originally stated that Sprint made a decision to call off the acquisition because Deutsche Telekom was looking to get the majority of control over the entity resulting from the merger; though some Sprint executives were reportedly okay with this, others allegedly wanted more.

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The companies expected to have a better shot at the merger this year under the Trump administration.

Talks between Sprint and T-Mobile for a possible merger have come to a halt, both companies announced on Saturday, ending weeks of discussions that had the potential to reconfigure the mobile industry.

Sprint "look [s] forward to continuing to take the fight to the duopoly and newly emerging competitors", Claure said. Based in Bellevue, Washington, T-Mobile US provides services through its subsidiaries and operates its flagship brands, T-Mobile and MetroPCS. "We won't stop now".