Feeds

Sprint spits out T-Mobile US gobble bid, says goodbye to CEO – claim

And almost exactly a year after Softbank officially swallowed Sprint

Security for virtualized datacentres

Sprint is set to give up its attempt to acquire T-Mobile US and plans to replace its own CEO, or so it is claimed.

The Wall Street Journal cited unnamed sources in reporting that fears monopoly watchdogs would nix the merger led US carrier Sprint to abandon its pursuit of T-Mob US. The deal was rumored to be worth as much as US$32bn.

With the US market already dominated by large national carriers, officials had been reluctant to accept any deal that would further consolidate the market.

A third company, French Carrier Iliad, publicly made a rival bid to acquire T-Mobile US, though that offer is said to have already been shot down.

Sprint declined to comment on the Wally report. The biz is expected to issue its own statement on the matter on Wednesday.

Shortly after word of the failed acquisition surfaced, a second report suggested that Sprint's Wednesday statement will also announce the departure of its CEO. Re/code is reporting that the firm will name a successor to CEO Dan Hesse tomorrow when it breaks its silence on the T-Mobile US bid.

Hesse has been with the company since 2007, a tenure that included an acquisition of the firm almost exactly a year ago by Japanese telecoms giant SoftBank.

The departure of a CEO in the wake of an acquisition is not unheard of – it's often expected, in fact. It could be that Sprint wants to soften the blow of its T-mobile US stumble by revealing a strategy for its future within Softbank at the same time. ®

Internet Security Threat Report 2014

More from The Register

next story
TEEN RAMPAGE: Kids in iPhone 6 'Will it bend' YouTube 'prank'
iPhones bent in Norwich? As if the place wasn't weird enough
Consumers agree to give up first-born child for free Wi-Fi – survey
This Herod network's ace – but crap reception in bullrushes
Crouching tiger, FAST ASLEEP dragon: Smugglers can't shift iPhone 6s
China's grey market reports 'sluggish' sales of Apple mobe
Sea-Me-We 5 construction starts
New sub cable to go live 2016
EE coughs to BROKEN data usage metrics BLUNDER that short-changes customers
Carrier apologises for 'inflated' measurements cockup
Comcast: Help, help, FCC. Netflix and pals are EXTORTIONISTS
The others guys are being mean so therefore ... monopoly all good, yeah?
Surprise: if you work from home you need the Internet
Buffer-rage sends Aussies out to experience road rage
EE buys 58 Phones 4u stores for £2.5m after picking over carcass
Operator says it will safeguard 359 jobs, plans lick of paint
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.