Sprint Chairman Masayoshi Son and CEO Dan Hesse are having second thoughts about their company’s plans to buy T-Mobile. In the wake of the passionate, public opposition the potential merger received from regulatory officials, Sprint is heading back to the drawing board, according to the Wall Street Journal.
FCC Chairman Tom Wheeler yesterday met with SoftBank CEO Masayoshi Son and Sprint CEO Dan Hesse and said he would keep an open mind about the potential merger, according to Reuters. But in general Wheeler’s thoughts on the matter were in line with Justice Department officials who’ve already signaled doubts.
SoftBank CEO Masayoshi Son will meet Monday with FCC Chairman Tom Wheeler to discuss a possible merger of Sprint and T-Mobile. Son, who also serves as Chairman at Sprint, will reportedly push for U.S. wireless industry consolidation and argue that a combined Sprint and T-Mobile stands a better chance against Verizon and AT&T. Sprint CEO Dan Hesse is also expected to attend the meeting.
In remarks made Thursday to the New York Bar Association, Assistant Attorney General of the Justice Department's Antitrust Division, Bill Baer, said that since the blocking of the proposed merger between AT&T and T-Mobile "competition in the wireless sector has flourished and consumers have benefitted."
U.S. Justice Department officials told Sprint CEO Dan Hesse and SoftBank CEO Masayoshi Son that any potential Sprint/T-Mobile merger would be met with “skepticism.” The Wall Street Journal spoke with individuals briefed on the conversation who said the meeting reinforced Son’s seriousness in making the merger happen.
T-Mobile CEO John Legere said a merger of his company with the Softbank-held Sprint could put more pressure on what he called the "duopoly" of AT&T and Verizon. Legere told Bloomberg that T-Mobile would eventually need more spectrum and other resources to compete with larger rivals and that merging with Sprint...
SoftBank and Deutsche Telekom (DT) have moved to direct talks on a deal for the German carrier’s 67-percent stake in T-Mobile. Bloomberg cited people familiar with the matter as saying the two companies are ironing out obstacles to the deal and said the process could take months. At issue is how much SoftBank will pay for DT’s share and how SoftBank-owned Sprint and T-Mobile would be integrated.
With shares of T-Mobile having risen over 25 percent in a little over a month, the fourth largest carrier is becoming less of bargain lately. That said, Sprint has apparently received proposals from multiple banks willing to finance a bid for T-Mobile, according to a report from the Wall Street Journal.
Armor5 CEO Suresh Balasubramanian said that the SoftBank partnership means that Zero-Touch will be rolled out to SoftBank’s regional carriers throughout the Asia-Pacific area and will eventually make its way to the U.S. on Sprint. But Armor5 is currently working on partnering up with other U.S. s ervice providers.
While Sprint, which has committed to a TDD LTE rollout, prefaced its remarks by saying it still believes a TDD band plan would result in the most bi-directional spectrum available for auction, the company said it recognizes it won't be the only one bidding on the airwaves.
Sprint today announced plans to raise money for network expansion and modernization efforts. The carrier did not specify when the sale might occur or how much it hopes to raise with the offering. Proceeds from the sale of the notes, due 2024, will also go toward funding retirement or service requirements of outstanding debt.
TOKYO - Ericsson today announced that its VoLTE solution was selected by Japanese carrier SoftBank. Ericsson says its VoLTE solution will provide SoftBank customers with telecom-grade HD voice, video calling over LTE. The company also claims its VoLTE solution will allow SoftBank to better utilize its spectrum.
Sprint Wednesday posted a profit in the first official quarter of the SoftBank era. The net income of $383 million righted the ship somewhat after a net loss of $767 million was posted a year ago. The Sprint platform lost 360 million postpaid subscribers but that was well down from the more than one million postpaid subs the carrier lost in the previous quarter.
Brightstar announced Friday that SoftBank had successfully bid $1.26 billion to acquire a 57-percent stake of the handset distributor. SoftBank’s investment values Brightstar at $2.2 billion. As part of the deal, over the next five years SoftBank’s ownership in Brightstar is scheduled to increase to 70 percent.
The 'Clash of Clans' mobile game maker Supercell is selling a 51 percent stake to Japan's SoftBank and GungHo in a 1.5 billion deal. CEO Ilkka Paananen says the partnership will speed Supercell's goal of becoming the "first truly global games company...
Chinese e-commerce giant Alibaba's biggest shareholders, Yahoo and Japan's Softbank Corp., on Friday backed the company's unusual management structure that Hong Kong's stock exchange was unwilling to accommodate, forcing it to look to the U.S. for a potentially mammoth IPO.
Sprint on Wednesday said that it has raised $6.5 billion through the sale of high-yield debt. According to a press release, Sprint has priced its previously announced offering of $2.25 billion aggregate principal amount of 7.250 percent notes due 2021, and $4.25 billion aggregate principal...
NTT DoCoMo looks again on the verge of selling the iPhone. CFO Kazuto Tsubouchi told SankeiBiz there are compelling reasons for the carrier to sell Apple’s handset but Apple and DoCoMo have had their differences in the past. The Sankei report reiterated no terms for a deal have been reached yet.
When the Japanese government recently awarded unused 2.5 GHz spectrum licenses to SoftBank rival carrier KDDI, Son lectured government officials for 50 straight minutes. Son argued that the process was unfair to SoftBank’s users and that he was “prepared to die” in order to get this message across, according to the Japanese Daily Press.
Just a day after closing its merger with SoftBank, Sprint unveiled some new unlimited talk, text and data plans. Unlimited data’s a big deal if only because the two biggest wireless providers in the U.S., AT&T and Verizon, completely shun the idea. But the timing of the plan caused speculation that the move was the first of many disruptive waves stemming from SoftBank entering the U.S. market. Not exactly.
Following nine arduous months of bids, revised bids, public beefs and lawsuits, Sprint today announced the completion of its merger with Japanese carrier SoftBank. With Sprint absorbing Internet wholesaler Clearwire in a deal finalized Monday, both Sprint and Clearwire are now effectively under the control of SoftBank.
The FCC has given its blessing to SoftBank’s $21.6 billion merger bid for Sprint and Sprint’s $5 per share buyout bid for Clearwire. In the order, released last Friday, the Commission concluded that the proposed transaction will likely result in public interest benefits.
SoftBank’s $21.6 billion deal for Sprint has won the approval of the FCC in a 2-1 vote. Bloomberg, citing people familiar with the matter, said the Commission’s decision covers both SoftBank’s bid and Sprint’s $5 per share offer to buy the remaining 50 percent of Clearwire it doesn’t already own.
Sprint Nextel shareholders voted today to approve Japanese carrier Softbank's offer to purchase 78 percent of Sprint. Shares of the company were up almost 2 percent to $6.99 on the news. According to a press release, Sprint shareholders overwhelmingly approved the deal...
SoftBank CEO Masayoshi Son expressed confidence that his company’s bid to acquire Sprint should wrap up by early July now that Dish has officially thrown in the towel on its bid for Sprint. Still, Reuters reported that Son warned the crowd at SoftBank’s annual shareholders meeting that Dish could still make a move before the June 25 Sprint shareholders vote.