Sprint’s Japanese owner Masayoshi Son was hoping that merger between Charter and Sprint will create a new company that will focus on providing both television and wireless as a package for customers. It will help keep Sprint afloat as the 5th largest telecommunication has been struggling to be profitable.
But SoftBank CEO and owner of Sprint, Masayoshi Son was disappointed on Sunday after the statement released by Charter that they are not interested in a merger.
According to the news, Sprint and T-Mobile tried to merge during Obama administration, but the idea was shot down due to strict regulations. Hope was that these regulations would ease up during Trump administration but the industry has changed, and no one wants to buy Sprint anymore.
Charter has a partnership with Verizon which allows them to offer wireless plans through data allotment by Verizon and they can do this under their brand. The wireless services will be launched by next year according to Charter executives.
It was yet again another setback for Sprint as it has been shopping for a potential buyer or merger for past few months.