Even business never give up on their dreams. According to a Reuters report, Sprint’s parent company SoftBank is reportedly working on a deal to merge with T-Mobile. Instead of acquiring the mobile telecom giant, it appears Softbank is willing to “give up control” of Sprint. Also, the company is prepared to sell most of the company to Deutsche Telekom, T-Mobile’s parent company, to merge the two company. Reuters reports their sources tell them that negotiations are expected to start in April.
In 2013, Softbank initially discussed acquiring T-Mobile. But, the company ditched those plans after FCC regulators at the time made the deal difficult. However, under the Trump administration, rumors of a deal have surfaced. In fact, T-Mobile’s CEO John Legere said during the CES a merger is a “potential outcome.” Other companies are attempting to benefit from the Trump administration. For example, AT&T and Time Warner are expected to merge. Also, Verizon is in the process of acquiring Yahoo!, despite the Yahoo! hack.
Softbank currently owns 83% of Sprint and Reuters reports that the lack of growth in the United States has left the company frustrated.
This news comes after Verizon announced unlimited data plans, following in the footsteps of their competitors including T-Mobile and AT&T.