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VOA | Sunday November 5, 2017
Sprint, T-Mobile End Merger Talks
Wireless carriers Sprint and T-Mobile called off a potential merger, saying the companies couldn't come to an agreement that would benefit customers and shareholders. The two companies have been dancing around a possible merger for years, and were again in the news in recent weeks with talks of the two companies coming together after all. But in a joint statement Saturday, Sprint and T-Mobile said they are calling off merger negotiations for the foreseeable future. '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, in a prepared statement. T-Mobile and Sprint are the U.S.' third- and fourth-largest wireless carriers, respectively, but they are significantly smaller than ATandT and Verizon, who effectively have a duopoly over U.S. wireless service. The two companies have said they hoped to find a way of merging to make the wireless market more competitive...Read more