Sprint Drops Bid for T-Mobile, Dan Hesse Booted & Softbank Tries to Steal John Legere

[dgstorm]

There has been a huge shakeup in the U.S. Mobile carrier world. First, Sprint has dropped its bid to buy T-Mobile. A Wall Street Journal report indicated that Sprint was so daunted by the backlash amongst U.S. regulators that it didn't seem worthwhile to fight for the merger.

Second, even though most of Sprint's mistakes all occurred before they ever hired him, Sprint has decided to boot CEO Dan Hesse from his position. They are replacing him with Marcelo Claure. He founded Brightstar, which is a Florida-based telecom company acquired by Softbank (the new owners of Sprint) in October of last year.

In fact, the report suggests Claure has been groomed for months to fill this role while he was closely working with Sprint's management. Claure had this to say about his plans for Sprint, “While consolidating makes sense in the long-term, for now, we will focus on growing and repositioning Sprint.”

You can check out Sprint's press release and Claure's full statement here: Sprint.

On top of this, there are insider rumblings that Softbank is trying to create an even more massive power shift in the industry. Supposedly, they are trying to steal T-Mobile's now famous CEO, John Legere.

Insider sources at Sprint indicated that Softbank has made an outrageous offer to acquire him, and they are willing to over-pay to make it happen. The unnamed Sprint investor who shared this intel had this to say,
"They are definitely willing to overpay, This guy is Jack Welch of our time."

What do you think? Will this be a good move for Sprint? Should Softbank be willing to overpay to grab Legere? Will he take their offer?

Source: TKNewsblog

 

[swc2001]

CRUD! I was really hoping that T-Mo and Sprint would merge. This would have put huge pressure on Att and VZW to go back to unlimited or be wiped out of the market.

GRRRR.

 

[Dusty]

TMo's good quarter has pushed their worth a bit too high for now. They're still on the block for the right price, let's all just wait and see what happens.

Sooner or later TMo... Sooner or later...

 

[grenefroggie]

CRUD! I was really hoping that T-Mo and Sprint would merge.

Japan holding the largest cell carrier in the US (combining T-Mo and Sprint would make about 140Mil compared to VZWs 120Mil...numbers majorly approximated) would not bode well. Not only would that put a foreign company in charge of the largest cell carrier in the US, it would also limit, to some extent, options to consumers. Legere and Son need to keep fighting to be the most cost effective cell services in the country to make AT&T and VZW smarten up.

 

[mountainbikermark]

CRUD! I was really hoping that T-Mo and Sprint would merge. This would have put huge pressure on Att and VZW to go back to unlimited or be wiped out of the market.

GRRRR.

Alltel was able to make much more change that was good for the consumer before being assimilated by Verizon. Though a smaller, by far, carrier than Verizon and the others their policies and procedures made Verizon change quite a few of their antiquated ways that were far less consumer friendly. If Sprint had bought T-Mobile they'd have just figured a way to botch a good thing like they always do.

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