>> Softbank getting cold feet over a deal to merge Sprint with T-Mobile. That's according to a source familiar with the matter. Worries the long talked about marriage won't ever happen immediately hit shares of both Telecom companies Monday. Sprint dropped around 9% and T-Mobile around 5. SoftBank owns a majority of Sprint, while German's Deutsche Telekom owns a majority of T-Mobile, and the two had been working out a merger.
Reuters M&A correspondent, Liana Baker.>> Reuters has been reporting for months that SoftBank was willing to give up control of Sprint to T-Mobile and that T-Mobile CEO, John Legere, would control the combined company. The latest twists and turn in this saga of negotiations which have been going on and off for the past six months is that sources close to SoftBank are saying that Masayoshi Son, the chairman of SoftBank, doesn't want to give up control of Sprint.
>> If this all sounds familiar, it's because the two telecom companies came close to announcing a merger in 2014, but called it off at the last minute due to regulatory concerns.>> T-Mobile, however, sources close to them are saying that talks aren't dead. They're trying to keep things alive.
And those sources are saying that Sprint hasn't walked away from the negotiations. So as in any complicated merger, there's a lot of back and forth here on price, on who's gonna control the company.>> A merger between Sprint and T-Mobile would have created a company with more than 130 million US subscribers, putting it just behind Verizon and AT&T.