Without T-Mobile merger, Sprint could be ‘sold for parts’
Jan 20, 2020, 12:41 PM | Updated: 12:43 pm
(Matt Pitman / MyNorthwest)
If a planned merger with Bellevue-based T-Mobile doesn’t go through, Sprint could be in big trouble.
The Puget Sound Business Journal reports the deal stalled Friday when a federal judge chose to extend his review of the Justice Department’s settlement into next month.
Sprint is $44 billion in debt and has reported an annual net loss for four out of the past five years.
“If this deal doesn’t go through, Sprint’s going to go down pretty hard,” an investment analyst told The Wall Street Journal.
T-Mobile’s CEO John Legere has said without the merger, Sprint would be “sold for parts.” Legere recently announced that he would stepping down at the end of his contract in 2020, but will remain on the company’s board to help see through the pending Sprint acquisition.
A final decision from the federal judge overseeing the merger is expected sometime in February.