Sprint Ends Talks to Acquire T-Mobile
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Sprint has ended talks to acquire T-Mobile as regulatory concerns outweighed the potential benefits of combining the third- and fourth-largest U.S. wireless carries.
Sprint has also named Marcelo Claure, the founder of mobile-phone distributor Brightstar Corp., as its new chief executive officer, according to a statement. Mr. Claure will replace Dan Hesse, who has led the company since 2007.
The decision by Sprint ends a nine-month effort by Japanese billionaire Masayoshi Son, whose SoftBank Corp. controls Sprint, to create a rival to Verizon Communications and AT&T Son had envisioned combining Sprint and T-Mobile to create a formidable competitor with the financial power and airwaves to serve more customers and eventually deliver faster broadband to consumers more cheaply than cable.
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