Dan Hesse

Sprint shelves T-Mobile acquisition plans; replaces CEO Dan Hesse

Sprint shelves T-Mobile acquisition plans; replaces CEO Dan Hesse

In an official announcement made on Wednesday, August 6, US wireless carrier Sprint said that it has shelved its plans to acquire smaller rival T-Mobile. In addition, Sprint also said that it is replacing its CEO Dan Hesse.

The announcement by Sprint about its abandoned pursuit of T-Mobile came two days after the Federal Communication Commission (FCC) opposed the plans of the two carriers to jointly bid on wireless spectrum in a 2015 auction.

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Sprint drops its T-Mobile acquisition bid; replaces CEO

Sprint drops its T-Mobile acquisition bid; replaces CEO

According to a Reuters report, third-ranking US carrier Sprint - which is the property of Tokyo-based SoftBank Corp. - has abandoned its T-Mobile acquisition efforts, apparently due to the difficult challenge of getting the deal approved by regulators.

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