T-Mobile and Sprint work to save merger talks: WSJ

Business

[ad_1]

FRANKFURT (Reuters) – T-Mobile US (TMUS.O) and Sprint (S.N) are working to salvage their $74 billion merger and could reach a deal within weeks, the Wall Street Journal reported, citing people familiar with the matter.

FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration/File Photo

Parent companies Deutsche Telekom (DTEGn.DE) and SoftBank (9984.T) reached an impasse last week in their talks as SoftBank directors expressed doubts over giving up control of Sprint, sources told Reuters.

However, the Wall Street Journal said that T-Mobile US has made a revised offer, which Sprint is considering. Terms of the offer were not disclosed.

A Deutsche Telekom representative was not immediately available to comment.

Under the previous deal structure, Deutsche Telekom would have controlled the new company, which would have merged the third and fourth-biggest U.S. mobile carriers.

Deutsche Telekom shares were indicated 0.9 percent higher ahead of the Frankfurt market open, compared with a 0.3 percent expected rise for the German blue-chip DAX .GDAXI index.

Reporting by Georgina Prodhan and Tom Sims; Editing by David Goodman

Our Standards:The Thomson Reuters Trust Principles.

[ad_2]

Source link

Loading...

Articles You May Like

Japan is ‘past the time for face-saving gestures’ as it embarks on ambitious climate change agenda: Experts
COVID-19 downturn to be more prolonged than past recessions, slow recovery for jobs market: MAS
Entrepreneurs try to find opportunity amid the COVID-19 uncertainty
How nature-based solutions can fight climate change, mitigate sea-level rise
Soldiers Injured as North Korea Deploys Landmines at Sino-Korean Border to Stop Escapees

Leave a Reply

Your email address will not be published. Required fields are marked *