U.S.-based wireless giants Sprint and T-Mobile have once again called off their latest attempt at merging operations, the two companies said over the weekend.
Overland Park, Kan.-based Sprint's parent company, Japanese-based SoftBank Group, and T-Mobile, controlled by Deutsche Telekom AG of Germany, said the two companies were unable to land on mutually agreeable terms after having been in talks for months.
Sprint and Bellevue, Wash.-based T-Mobile attempted to join forces in 2014 but called it off after facing scrutiny from the Federal Communications Commission during the Obama administration under Chairman Tom Wheeler. The FCC is currently led by Republican Ajit Pai, who has previously voiced his support of merger and acquisition activity in the telecommunications space.
Charter Communications' stock price was up on Monday morning after a new report suggested that SoftBank was trying to re-engage the cable giant with a merger deal. Charter received a merger proposal from Sprint in July, which it had publicly declined, citing "no interest" in acquiring the wireless provider.