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.

The FCC's resistance to Sprint's and T-Mobile's joint bid on wireless spectrum implicitly implied that the merger of the two carriers will apparently not received the approval of the federal regulators.

Meanwhile, along with shelving its plans to acquire T-Mobile, Sprint has also revealed in its August 6 announcement that it is dumping its CEO Dan Hesse who was supposedly behind the merger deal.

To replace Hesse, Sprint and its parent company SoftBank have reportedly zeroed in on Marcelo Claure, who presently the CEO of Miami-based cell phone distributor Brightstar, which was acquired by SoftBank last year.


Popular Stories

Harley-Davidson to turn 8 Dyna motorbikes into new Softail bikes

Betting big on cruisers, the luxury motorcycle... Read More

Uber’s net loss declines as ride bookings grow

Uber Technologies reported lower loss by nearly 9... Read More

Samsung Galaxy Note 8 facing challenges on multiple fronts

The Samsung Galaxy Note 8 is facing an increasingly... Read More

Leaked reports reveal more about new BMW M5

Luxury carmaker BMW’s next-generation M5 car will... Read More