Sprint/T-Mobile Deal is Dead; Hesse Out as CEO
Sprint has dropped plans to acquire T-Mobile, in the belief that the combination would not be approved by the government, the Wall Street Journal reported Tuesday.
In addition, Sprint will replace CEO Dan Hesse. According to Recode, the new CEO is Marcelo Claure, formerly of BrightStar.
The deal, in the works for months, was never formally announced. A previous merger between AT&T and T-Mobile fell apart before it was completed.