SoftBank calling off talks to merge Sprint, T

Javier Stokes
October 31, 2017

Both Sprint and T-Mobile skipped out of earnings calls last week, reportedly to avoid talking about the merger.

T-Mobile and Sprint are the biggest "will they or won't they" story since Ross and Rachel.

"Whether or not those issues on governance rise to the level of meaning the deal is off, is not clear", he added. The decision was made Monday to call the talks off. T-Mo is also a little less bad, down $1.66, or 2.6%, at $61.30.

SoftBank Group Corp's 9984.T board of directors is having doubts about the merger it has been negotiating between its USA wireless subsidiary Sprint Corp S.N and T-Mobile US Inc TMUS.O , due to fears of losing control of a combined entity, a source familiar with the matter told Reuters on Monday. Trading of Sprint was briefly halted just after the report was published. The companies had been ironing out final terms of the merger in the hopes of announcing a deal in mid- to late November, people familiar with the matter told Bloomberg earlier this month.

Iran warns to quit nuclear deal if USA reimposes sanctions
As for the deal, Iran has accepted nuclear restrictions and another party has committed to the removal of sanctions, he said. Under the deal, Iran is allowed to enrich uranium to low levels of 3.5 percent, which can be used to power reactors.

Sprint's shares were down 9 percent at $6.36 and T-Mobile fell 4.3 pct to $60.35.

SoftBank CEO Masayoshi Son said in May that the Obama administration was "quite tough on business", and added "the door is open" for potential mergers with the new administration.

SoftBank reportedly was okay with this - at least some higher-ups in the Japanese company - but it still wanted to have some of its own influence over the entity. The merger discussions have gone through several fits and starts over a long period, and it's unclear whether the companies will ultimately return to the table, the people said.

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