Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
SoftBank CEO Masayoshi SonPhoto: Alessandro Di Ciommo/Getty Images
The latest attempt to bring together Sprint and T-Mobile ended over a dinner in Tokyo last night, according to a source familiar with the situation. Deutsche Telekom CEO Timotheus Höttges presented a revised deal to SoftBank chief Masayoshi Son and Sprint CEO Marcelo Claure but once again things got stuck over control of the combined company, the source said.
Both Sprint majority owner SoftBank and Deutsche Telekom, which owns a controlling stake in T-Mobile US, wanted to be the one to hold the upper hand in the combined entity.
Why it matters: Though both sides wanted control, the end of talks leaves Sprint and T-Mobile both as distant rivals to AT&T and Verizon and potentially in need of a different deal, possibly with a cable company.
At the dinner, Son turned down the offer and the two sides agreed to break off negotiations, ending in Saturday's joint statement.
"He didn't want to give up control," the source said. "He thinks that Sprint is a strategic asset for SoftBank and critical to its future."