Monday, July 31, 2017
Charter Shows No Interest In Acquiring Sprint
U.S. cable operator Charter Communications Inc said on Sunday it was not interested in acquiring U.S. wireless carrier Sprint Corp, leaving the latter's majority owner, SoftBank Group Corp, pondering how to orchestrate a merger, according to Reuters.
A merger of Charter and Sprint would create a telecommunications powerhouse, providing a one-stop shop for customers looking for internet and mobile phone services, giving the combined company a stronger footing in creating the infrastructure required for so-called 5G wireless technology.
SoftBank Chief Executive Masayoshi Son is considering making an acquisition offer for Charter, which has a market capitalization of $101 billion and another $60 billion in debt, as early as this week, a person familiar with the matter said on Sunday, in what would be by far the Japanese telecommunications conglomerate's biggest ever deal.
SoftBank remains interested in merging Sprint with T-Mobile US Inc, another U.S. wireless carrier controlled by Germany's Deutsche Telekom AG, with which Sprint held deal negotiations earlier this year, the source added.
The source asked not to be identified because the deliberations are confidential. SoftBank declined to comment.
"We understand why a deal is attractive for SoftBank, but Charter has no interest in acquiring Sprint," a Charter spokesman said in an emailed statement on Sunday. He declined to comment on whether Charter would entertain a bid from SoftBank and at what price.
Sprint and T-Mobile could not be immediately reached for comment.
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Posted 2:38:00 AM