After weeks of exclusive negotiations, talks between U.S. cable operator Charter Communications and wireless network carrier Sprint have broken down. Multiple sources reported on Sunday that Chart has backed out of the talks, saying it has no interest in acquiring Sprint, which leaves the network’s majority owner, SoftBank Group Corp, with limited options.
If it had gone through, the new conglomerate would have been controlled by SoftBank and might have given Sprint more leverage in its ongoing merger discussions with T-Mobile. It’s expected that SoftBank will again focus its attention on trying to convince T-Mobile to foin forces, but that is seen as a long shot still.
In a statement delivered to multiple media outlets, Charter spokesman Alex Dudley said that the company plans to hold onto its current mobile virtual network operator deal with Verizon. That deal allows Charter to piggyback off of Verizon’s network to provide wireless service to Charter customers as early as next year. Verizon has a very similar deal in place with Comcast, which is currently available to its customers.