According to a report from Nikkei, SoftBank — parent company of Sprint — wants to off the merger between T-Mobile and Sprint. The reason comes down to specific details regarding the new ownership of whatever company came out of the merger.
Up to this point, it sounds like SoftBank was willing to give up control as a result of the merger. T-Mobile’s own parent company, Deutsche Telekom, has demanded that it take a lion’s share of the merged companies, because it is the third largest wireless carrier in the United States and Sprint is fourth. Apparently on Friday of last week, SoftBank’s board members decided they weren’t okay with the idea of giving up control after all.
The report indicates that SoftBank will end the merger process as soon as tomorrow, October 31.
With negotiations apparently called off and the merger no longer being considered, this may be one of the longest-running rumors that may actually go dark.