T-Mobile and Sprint Preparing Board Committees to Decide on Merger

T-Mobile and Sprint Preparing Board Committees to Decide on Merger

TMobile and Sprint Preparing Board Committees to Decide on Merger

Amidst the possibility of a merger with rival telecom provider T-Mobile, Sprint reported a slight quarterly loss on Wednesday. The company declined to conduct a press conference on its earnings.

Sources indicated that both telecommunication giants were setting up a special committee from their boards to discuss a potential merger between them the third and fourth largest such companies in the United States.

A possible announcement is expected by November, which will create a company that will have more than 130 million subscribers, behind only Verizon Communications and AT&T.

Just like T-Mobile, Sprint was not available to comment on the merger. Sprint reported net additions of 279,000 phone subscribers who pay a monthly bill in the quarter. Analysts at Wells Fargo also anticipated an addition of 225,000.

In the quarter ending September 30, Sprint reported a net loss of $48 million, or one cent of company’s share. This is better than last year’s result at the same time, which was $142 million or four cents per company’s share. Analysts had expected the loss to be two cents a share.

Sprint recorded a net revenue of $7.93 billion, which is less than last year’s numbers of $8.25 billion

Anirudh Menon
Anirudh Menon
I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.

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