There's a lot of talk about the acquisitions going on between AT&T, Sprint and T-Mobile. Now, Sprint is starting to show their concern as Dan Hesse, CEO of Sprint, has voiced that if AT&T acquires T-Mobile, then that would leave 79% of the country's wireless subscribes with 2 carriers. This would indeed give AT&T the upper hand and the power over the two companies, especially since AT&T has become the only nationwide GSM carrier.
It was not long for Sprint’s shares to drop, as ever since the news came out about the acquisitions, (less than a week) Sprint's shares dropped 14%, and this was only on the day after of the news.
The executive vice president of AT&T, Jim Cicconi, had this to say in regards to Dan Hesse's concerns:
We understand Sprint has concerns, and we’ll be happy to address any they present, whether at the Justice Department, the FCC or the Congress. We feel we have good and compelling answers. And we feel policymakers will readily understand that any company with whom AT&T competes may not be especially positive about anything which makes AT&T a better competitor in the wireless market.
Spiel
Korssik 03-26-2024 04:34 PM