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.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
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
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
T-Mobile said Saturday it has ended merger talks with Sprint after being unable to come to a satisfactory deal.
"The prospect of combining with Sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders, T-Mobile US CEO John Legere said in a statement. “However, we have been clear all along that a deal with anyone will have to result in superior long-term value for T-Mobile's shareholders compared to our outstanding stand-alone performance."
"While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination," Sprint CEO Marcelo Claure said in a statement. "However, we have agreed that it is best to move forward on our own. We know we have significant assets, including our rich spectrum holdings, and are accelerating significant investments in our network to ensure our continued growth."
Why it matters: The No. 3 and No. 4 wireless carriers had been widely expected to combine in an effort to better compete against far larger AT&T and Verizon.
The two companies have been holding talks on and off for years, having scrapped an earlier deal after it became clear under President Obama that the FCC would not approve any combination of the two. Current FCC Chair Ajit Pai has been non-committal but the Trump Administration has been seen as more open to big deals generally.
A key sticking point this time appears to have been control over the combined company. SoftBank owns a majority stake in Sprint, while Deutsche Telekom has a controlling interest in T-Mobile US.
The move could pave the way for each to seek other deals, possibly a combination with a cable company or another global telecom company. And, despite Saturday's pronouncement, it's also possible the two will reignite talks at some point.