Deals
Sprint, T-Mobile Deal Collapses
- SoftBank, DT CEOs are said unable to resolve control issue
- Mobile price wars likely to continue with four big players
Sprint Shares, Bonds Plunge as T-Mobile Deal Collapses
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SoftBank Group Corp.’s talks to merge U.S. unit Sprint Corp. with T-Mobile US Inc. ended after months of negotiations, dashing investors’ hopes for a wireless megamerger and signaling that unlimited data plans and heavy price discounting among U.S. carriers will continue.
SoftBank Chief Executive Officer Masayoshi Son and Tim Hoettges, CEO of T-Mobile parent Deutsche Telekom AG, couldn’t resolve how to share control of the combined company over dinner Friday night in Tokyo, people familiar with the matter said. SoftBank will hold an investor day soon to detail its plans for going forward alone in the U.S., the people said, asking not to be identified discussing private information.