Sprint and T-Mobile End Merger Discussions

A woman talks on her phone as she walks past T-mobile and Sprint wireless stores in New York

The two carriers have been huddled for weeks, but reports suggested talks hit several hurdles. However, we have agreed that it is best to move forward on our own.

Sprint President and CEO Marcelo Claure said that "while we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".

"The prospect of combining with Sprint has been compelling for a variety of reasons", said T-Mobile President and CEO John Legere in a statement.

This would be the second time an attempted merger of Sprint, controlled by SoftBank Group Corp (T:), and T-Mobile, controlled by Deutsche Telekom (DE:), has failed.

T-Mobile said Saturday that while the company believed a merger with Sprint could have been beneficial for consumers, it is ultimately more confident in its ability to go it alone.

T-Mobile and Sprint are the U.S.′ third- and fourth-largest wireless carriers, respectively, but they are significantly smaller than AT&T and Verizon, who effectively have a duopoly over US wireless service. But with the new Trump administration, it was thought regulators might be more relaxed about a merger.

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It is still possible that Sprint will reject the new terms or decline investing any more effort into the potential merger.

T-Mobile USA and Sprint today finally gave a definitive answer about whether they will merge.

Although it has cut its costs, Sprint is saddled with considerable debt and has endured numerous annual losses.

Sprint previously abandoned a bid for T-Mobile in 2014 when it became clear that the Obama administration would block the merger in order to preserve the competition created by having four major nationwide carriers.

T-Mobile has been particularly aggressive - and successful - in challenging its two larger rivals.

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