NEW YORK (AP) – Wireless carriers Sprint and T-Mobile are calling off merger negotiations, saying the companies couldn’t come to an agreement that would benefit shareholders.
The two companies have been dancing around a possible merger for years, and were again in the news this week with talks of the two companies coming together after all.
But in a joint statement, Sprint and T-Mobile said they are calling off merger negotiations for the foreseeable future.
T-Mobile and Sprint are the U.S.′ third- and fourth-largest wireless carriers, respectively, but they are significantly smaller than AT&T and Verizon, who effectively have a duopoly over U.S. wireless service.
The two companies have said they hoped to find a way of merging to make the wireless market more competitive.