Sprint merger talks are over

With T-Mobile Deal All But Dead, Softbank Looks To Charter

Sources claim T-Mobile CEO John Legere reached out to Sprint's CEO Marcelo Claure following a T-Mobile board meeting held to decide whether the carrier would attempt to revive the deal. Neither Sprint nor T-Mobile immediately replied to requests for comment by CNNMoney.

Claure said in August that while Sprint could sustain itself, cost savings from a transaction were significantly better than remaining a standalone entity. Initially, the merger seemed to be a done deal. The company had eyed the Deutsche Telekom company as a way to grow its own footprint in the USA and take on the two big carriers in the nation, AT&T and Verizon. "However, we have been clear all along that a deal with anyone will have to result in superior long-term value for T-Mobile's shareholders compared to our outstanding stand-alone performance and track record".

Failure to clinch an agreement leaves SoftBank CEO Masayoshi Son, a dealmaker who raised close to $100 billion for his Vision Fund to invest in technology companies, with the need to find another option for Sprint.

T-Mobile US Inc. and Sprint Corp. were reportedly on the verge of inking a deal in September, but rumors have been swirling over the last couple of weeks that negotiations had stalled.

Paytm Inbox feature lets users chat and send or receive money
Known as the Paytm Inbox , this app allows you to chat with contacts, initiate group chats, and send and receive money. The e-commerce brand based out of Delhi NCR, India Paytm is a consumer brand of parent company One97 Communications.

But in a joint statement Saturday, Sprint and T-Mobile said they are calling off merger negotiations for the foreseeable future. Earlier reports indicated that Deutsche Telekom would own a majority stake of the combined company if a merger was completed.

The companies expected to have a better shot at the merger this year under the Trump administration.

Sprint "look [s] forward to continuing to take the fight to the duopoly and newly emerging competitors", Claure said. Both Sprint and T-Mobile said they were open to exploring other options. "We won't stop now".

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