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T-Mobile Calls Off Sprint Talks After Failing to Agree on Terms

T-Mobile CEO John Legere acknowledged there had been good reason to merge, but sounded undaunted by the collapse:

The prospect of combining with Sprint has been compelling for a variety of reasons, including the potential to create significant benefits for consumers and value for shareholders. However, we have been clear all along that a deal with anyone will have to result in superior long-term value for T-Mobile’s shareholders compared to our outstanding stand-alone performance and track record. Going forward, T-Mobile will continue disrupting this industry and bringing our proven Un-carrier strategy to more customers and new categories – ultimately redefining the mobile Internet as we know it. We’ve been out-growing this industry for the last 15 quarters, delivering outstanding value for shareholders, and driving significant change across wireless. We won’t stop now.

T-Mobile stock closed up 61 cents, or 1%, on Friday, and down 1.44% over the past month and up 2.4% this year to date. Sprint closed up 24 cents, or almost 4%, on Friday, at $6.67, and is up 2% in the last month and down 21% this year.