According to a new Bloomberg report today, America’s favorite color yellow loving carrier, Sprint, is planning on formally attempting to acquire magenta endowed rival T-Mobile this summer. This adds credence to some previous rumors made a couple of months ago now that Sprint owner SoftBank had been looking into purchasing and potentially starting a “bidding war” for T-Mobile. What would this mean for Sprint’s current mobile packages? There’s unrest among us consumers.
According to the new report, Sprint has been in talks with no less than six banks to secure the loans necessary to carry through with the offer, the amount of which is still an unknown. Under the current terms of a prospective deal, T-Mobile CEO John Legere is the “leading candidate” to run the new, Sprint owned T-Mobile.
Interestingly, Bloomberg claims that Sprint is strategically planning on pursuing the deal while the FCC and Justice Department are tied up reviewing the Comcast/Time Warner Cable deal. Sprint seems to want to convince them that the merger is part of a changing telecommunications landscape. Sprint is likely to be extra-cautious with any plans to proceed as AT&T’s plan to buy out T-Mobile, which took place in 2011, was quashed by the Justice Department following an extensive review.