Wellllll… to quote Monty Python
I’m not dead yet
Apparently DT (parent of T-Mobile) has been pushing to change the terms the merger with Sprint. It seems DT isn’t pleased with Sprint’s poor performance over the last two years, according to the Financial Times.
Two sources told the newspaper DT pressed Softbank (parent of Sprint) to reduce the price agreed upon about two years ago – saying the company’s share price and performance had dropped.
The article goes on to say that DT’s confident it is within its rights to change the terms of the deal – and feels so by the recent judge’s ruling and comments.
Under the current terms, Sprint shareholders would hold 1/3 of the combined company. FT pointed out that since those terms were agreed upon, Sprint’s earnings have remained flat, while T-Mobile’s are up by a fifth.
If its new terms are not met, T-Mobile also has the option to walk away from the deal. With all the legal delays, the original offer technically expired towards the end of 2019.
Read the entire article here
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