T-Mobile may need a little self-confidence boost, because it looks like Sprint is leaving it at the altar. Nikkei reports that SoftBank Group is planning to end negotiations for a merger between its subsidiary Sprint and T-Mobile U.S.
Like many couples, they just couldn’t agree on a prenup: The merger fell apart when the parent companies failed to come up with ownership terms for the entity that would have combined the No. 3 and No. 4 wireless service providers into one big happy wireless family, the Wall Street Journal reports. This is the second time that SoftBank has pursued T-Mobile only to get cold feet. Back in 2014, it wooed the company before getting scared that antitrust regulators wouldn’t allow it to merge.
After reports that the merger was once again crumbling, Sprint shares dropped as much as 13%, while T-Mobile stock declined as much as 5%.