OVERLAND PARK (dpa-AFX) - T-Mobile US Inc. (TMUS) announced that it has end talks to merge with Sprint Corp. (S), as the companies were unable to find mutually agreeable terms.
John Legere, president and chief executive officer of T-Mobile US Inc. said that the prospect of the two companies coming together has been compelling for many reasons, including the value it would create for shareholders and the benefits it would bring consumers.
'However, 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 compared to our outstanding stand-alone performance and track record,' Legere stated.
'While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination,' said Sprint President and CEO and SoftBank board member Marcelo Claure, in the statement. 'However, we have agreed that it is best to move forward on our own.'
Copyright RTT News/dpa-AFX