Sprint’s parent company is increasing its stake in the U.S. carrier
“Sprint is a critical part of our plan to ensure that we can deliver our vision to American consumers.”
Talks about a T-Mobile and Sprint merger have been happening for years, and as you probably heard over the weekend, those talks were finally put to rest. T-Mobile recently issued a press release announcing that it and Sprint were “unable to find mutually agreeable terms”, and as such, we shouldn’t hold our breath for a merger between the two carriers anytime soon.
Shortly after this news broke, Sprint’s parent organization – SoftBank Group – issued a press release announcing that it’ll be increasing its stake in the U.S. carrier.
This increased stake will happen through open market transactions and other matters, but SoftBank Group states that it has no plans of increasing its current ownership of Sprint to 85% or higher as a result of this new initiative.
Per SoftBank Group’s CEO and Chairman, Masayoshi Son –
We are entering an era where billions of new connected devices and sensors will come online throughout the United States. Continuing to own a world class mobile network is central to our vision of ubiquitous connectivity. Sprint is a critical part of our plan to ensure that we can deliver our vision to American consumers and we are very confident in its future.
It’s unclear as to whether or not this move by SoftBank will have any implications for U.S. customers, but with the T-Mobile merger now dead, we’ll likely see Sprint make a big push in the coming months to make itself as attractive and competitive as ever.
Unpacking the doomed T-Mobile / Sprint merger