Sprint has finally confirmed that it will be taking a controlling stake in previous partner Clearwire. Now, even more interesting statements are coming out in regards to a possible bid for MetroPCS. Most assumed that with a confirmed buyout by Japanese carrier Softbank, Sprint was done trying to get in between a T-Mobile / MetroPCS merger. According to statements by CEO of Softbank Masayoshi Son and CEO of Sprint Dan Hesse, this may not be the case. Hesse, in a quote obtained by The Wall Street Journal, indicated that the structure of the Softbank buyout is set up in a way that gives Sprint cash to work with if a possible deal with MetroPCS arises:
"Think of it almost as an insurance policy. It's some money in the bank until the deal closes that, for some reason, if we wanted to do something we could."
Hesse continued, speaking to assumptions that in the future Sprint and T-Mobile could potentially merge to take on rivals AT&T and Verizon:
"We've got a transaction that's pending with Softbank, and then when we get together we'll take a look at the landscape and make our decisions then. If it's accretive and makes sense for our shareholders, I would do what it takes."
The U.S. wireless industry seems to be making some serious changes. It will be interesting to see what the carrier landscape in the states looks like in the next year.
- Filed under: