Sprint Abandons Bid to Buy T-Mobile, Expected to Name New CEO

Not many details are known about the matter just yet, but it appears that SoftBank/Sprint, T-mobile and parent company Deutsche Telekom may be letting go of their efforts to pursue a Sprint/T-Mobile merger, due to hiccups and road blocks that Sprint feels they may have face from the FCC and other regulators after presenting the plan for the merger which was expected to happen sometime after September. There has been plenty of news on what was in store for T-Mobile's future concerning this buyout deal and the latest involved interest from French Telecom company Iliad, who recently last week proposed a $15 Billion bid to purchase up 56% of the company from Deutsche Telekom.

News reports quickly hit the internet and other sources that DT was effectively rejecting this bid, and just this morning rumors started to spread that T-mobile was getting ready to reject the bid themselves sometime tomorrow. Of course the details surrounding Iliad didn't stop there as there are also now reports that Iliad is talking to additional investors in an attempt to improve their bid for the Uncarrier, including companies like Dish Network, Charter Communications, and Cox Communications, along with a couple Sovereign Wealth Funds Ontario Teachers Pension Plan and GIC Private Limited. In the wake of the botched deal it seems that Dan Hesse may also be on track to get a replacement according to Bloomberg, rumored to be happening as soon as tomorrow, but then again, should the merger have been approved and gone through, the rumor was that current T-Mobile CEO John Legere would take over for Hesse anyway, so we can look at this as just moving that part of the change forward to an earlier date. 

As of now there is no official word that has been given from either Sprint or T-Mobile on the matter and that includes whether or not they have any ideas of who might take over for Hesse in light of his potential removal as CEO.


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About the Author

Justin Diaz

Head Editor
Lover of food, craft beer, movies, travel, and all things tech. Video games have always been a passion of his due to their ability to tell incredible stories, and home automation tech is the next big interest, in large part because of the Philips Hue integration with Razer Chroma. Current Device: Google Pixel.