The companies said they ended talks after they were "unable to find mutually agreeable terms".
Marcelo Claure, Sprint President and CEO added in the statement: "While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination".
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Wireless carriers Sprint and T-Mobile called off a potential merger, saying the companies couldn't come to an agreement that would benefit customers and shareholders. However, we have agreed that it is best to move forward on our own.
The other day, Sprint majority owner SoftBank had chose to end merger talks with T-Mobile and its majority owner Deutsche Telekomover which side would have majority control of the combined firm.
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Exactly what issue ultimately severed the talks was not immediately clear Saturday. With its hoard of 2.5GHz high-frequency spectrum, Sprint would have been a ideal fit for T-Mobile and its cache of low-frequency airwaves in the 600MHz-700MHz bands.
This is the second time the mobile carriers have attempted to join forces and failed. After the government nixed AT&T's attempt to buy it in 2011, T-Mobile led the way in many consumer-friendly changes, such as ditching two-year contracts and bringing back unlimited data plans. Legal experts also said earlier this year that it was hard to predict whether the current administration would be more receptive of a deal. Sprint also controls the largest holding of 2.5 gigahertz airwave licenses in the US, a crown jewel that has been obscured inside a money-losing business. At this point, talk of a merger is between Softbank and Charter, rather than having direct involvement with Sprint. Tokyo-based SoftBank had previously seemed amenable to a stock-for-stock merger that valued Sprint at or near its market price, with no premium, people familiar with the matter said last month.
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