'We frankly don't care' if T-Mobile and Sprint merge, Verizon CEO says
May 3, 2018
Verizon does not plan to oppose T-Mobile’s deal to merge with Sprint, Verizon CEO Lowell McAdam said Wednesday, adding that the company is not concerned about the potential of a larger competitor.
“We don’t have a point of view on whether it goes through or it doesn’t,” he said in an interview a day ahead of Verizon’s annual shareholders meeting in Renton. “We frankly don’t care.”
Verizon has been investing heavily in its 5G technology, and McAdam said he feels it is solidly ahead of its competitors in developing and implementing the next-generation super-fast connections that carriers are building out this year.
Bellevue-based T-Mobile and Sprint announced on Sunday a plan to combine in a $26.5 billion deal that would keep the T-Mobile brand intact. The companies have attempted a deal twice before – once it was shot down by federal regulators, and once they couldn’t agree on terms.
The third time may be the charm under a Trump administration regulatory environment that many believe is more receptive to these types of deals than the federal government has been in years past.
T-Mobile and Sprint have portrayed the merger as the best possible outcome for consumers when it comes to 5G technology. The network will be expensive to build out, and together the companies would be able to push the industry forward, executives from both companies said when announcing the merger.
Read more at The Seattle Times