Sprint plans to end its pursuit of T-Mobile. The company and its owner SoftBank have been weighing the idea for nearly a year.
They now believe Sprint will not be able to win regulatory approval of an acquisition or merger between Sprint and T-Mobile, according to unnamed sources cited by The Wall Street Journal.
The FCC and Justice Department were quick to tell Sprint they prefer a four-carrier market to maintain competition. Sprint and its owner Softbank will pursue a solo strategy moving forward. Sprint may make a formal announcement regarding a change of direction as soon as Wednesday.
Separately, Bloomberg also reported that Sprint and T-Mobile have ended merger talks. Bloomberg further noted Sprint may also announce a new CEO to replace Dan Hesse along with its new strategy. Sprint has not made any announcements, nor did it comment on either report.
