An obscure 2017 telecom deal explains why T-Mobile and Sprint had to merge
https://www.cnbc.com/2018/04/30/t-mobile-aborted-deal-for-straight-path-casts-light-on-sprint-merger.html
An obscure wireless industry deal from last year can help explain why T-Mobile and Sprint finally merged this week after years of flirting with a deal.
Last May, Verizon signed a deal to buy acompany called Straight Path for more than $3 billion. If you remember the deal, it's probably because AT&T and Verizon battled back and forth for the company in an insane bidding war. After a series of bids and overbids, Verizon ended up paying $184 per share for Straight Path, which had been trading at around $30 per share. The merger was completed this February.
An obscure 2017 telecom deal explains why T-Mobile and Sprint had to merge
Apr 30, 2018, 8:30pm UTC
https://www.cnbc.com/2018/04/30/t-mobile-aborted-deal-for-straight-path-casts-light-on-sprint-merger.html
>An obscure wireless industry deal from last year can help explain why T-Mobile and Sprint finally merged this week after years of flirting with a deal.
>Last May, Verizon signed a deal to buy acompany called Straight Path for more than $3 billion. If you remember the deal, it's probably because AT&T and Verizon battled back and forth for the company in an insane bidding war. After a series of bids and overbids, Verizon ended up paying $184 per share for Straight Path, which had been trading at around $30 per share. The merger was completed this February.