T-Mobile CEO John Legere also said there were benefits to consolidating, but added that, "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".
The announcement marks the latest failed attempt to combine the third- and fourth-largest US wireless carriers, as Sprint parent SoftBank Group Corp, and T-Mobile, controlled by Deutsche Telekom AG, show unwillingness to part with their prized USA telecom assets.
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T-Mobile and Sprint have been attempting a potential merger, but on Saturday the two companies released a joint statement announcing that they've decided not to go forward. The tone of the release suggests T-Mobile and Sprint are still on pleasant enough terms, so it's not unthinkable to imagine the two to partnering in some capacity in the future. He said Sprint has agreed it is best to move forward on its own with "significant assets, including our rich spectrum holdings, and are accelerating significant investments in our network to ensure our continued growth".
T-Mobile US Inc. Claure, the Sprint CEO, is also a member of SoftBank's board. But with the new Trump administration, it was thought regulators might be more relaxed about a merger. Sprint also controls the largest holding of 2.5 gigahertz airwave licenses in the US, a crown jewel that has been obscured inside a money-losing business.
Legere said that T-Mobile has "been out-growing this industry for the last 15 quarters, delivering outstanding value for shareholders, and driving significant change across wireless".