Sprint CEO Dan Hesse says no big deals for Sprint until 2014
Hesse's board shot down the acquisition. Hesse now says not to expect a major deal from the nation's third largest mobile carrier until 2014. He did say that Sprint would do a deal sooner if waiting meant losing out to a competitor or if the deal was too good to pass up. The negatives to do doing a deal now are the financial pressures that would come from an acquisition and the carrier's low stock price, according to the executive. He added that with the investments Sprint is making now (on LTE 4G service, for example), this really isn't the right time for Sprint to consider an acquisition.
The Sprint CEO added that he didn't believe that U.S. regulators want to see a specific number of major carriers in the country, and that this was not a reason for the refusal of the Justice Department to sign off on AT&T's proposed purchase of T-Mobile. "I honestly don't believe there's a magic number of four at all," Hesse said, adding that the FCC and DOJ just want to make sure that the top two mobile carriers, Verizon and AT&T respectively, aren't involved in any huge deal.
1. prayerofaltair (Posts: 10; Member since: 01 Feb 2012)
how do these morons make it to level of CEO? my brain hurts...
6. miles16852 (Posts: 181; Member since: 20 Oct 2011)
and you think u can do better? go ahead and you be CEO of sprint, and watch sprint close its doors in less then 30seconds if you were to be CEO, yeah your brains would hurt the first 60 seconds!
9. TOYMAN (Posts: 29; Member since: 23 Feb 2012)
AT LEAST HE IS NOT THE WOREST CEO LIKE THE DUMBASS FROM MICSOFT
15. miles16852 (Posts: 181; Member since: 20 Oct 2011)
sounds like your jealous of there success, dont make a fool out of yourself please
18. parkwaydr (Posts: 572; Member since: 07 Sep 2011)
Haha what success, the only thing that's still keeping ms in the game is xbox, and he had nothing to do with that
47. simplyj (Posts: 403; Member since: 23 Dec 2009)
So the Windows desktop OS isn't keeping Microsoft in the game? Okay.
48. DonkeySauce (Posts: 134; Member since: 03 Dec 2011)
Or Gary Forsee that thought buying Nextel was a good idea.
46. -box- (Posts: 3534; Member since: 04 Jan 2012)
If sprint were thinking about any acquisitions, I'd be pretty upset if I were one of their stockholders. They just spent several fortunes on the iphone deal, which hasn't been a great return on investment yet, and the issues they're having with their networks and trying to remain competitive aren't reassuring either. WiMax was a bust, Clearwire was a bust, Nextel just added subscribers, and a lot left due to satisfaction issues when the best Nextel features were shuttered. Were I a shareholder, I'd insist on a rapid conversion to LTE for the entire network or I'd sell my portions and go with a company with better visions and preparedness for the future
2. medicci37 (Posts: 537; Member since: 19 Nov 2011)
Sprint & big deals don't mix. The deal they made with Apple almost bankrupted them.
8. miles16852 (Posts: 181; Member since: 20 Oct 2011)
your most likely to go bankrupt of personal bankruptcy then sprint would! another idiot who thinks they know how a company is to be run, gee, what company are you running? none! thoght so, how about it idiot! why dont you call Dan Hesse and give him some advice! LOL
11. Captain_Doug (Posts: 730; Member since: 10 Feb 2012)
Edit: Nvm. Somehow I didn't catch on to you being troll.
14. miles16852 (Posts: 181; Member since: 20 Oct 2011)
your a slow learner! help Hesse, since you seem to know it all!
12. medicci37 (Posts: 537; Member since: 19 Nov 2011)
I'm gonna give your stupid Borat azz some advice. Learn to spell & understand English before you comment. If i ever go bankrupt, it will be from tryn to feed your fat Bolshevik Momma. js :-)
13. miles16852 (Posts: 181; Member since: 20 Oct 2011)
this isnt spelin class bozzo, i hope you like my spellin now! now run along, your daddy wants to teach you how to spell and proper englishh! who the heck are you to give me advise! you have the nerve to try to give Hesse advise, sorry but your a bigger failure then you know!
19. moofoodooloo (Posts: 137; Member since: 04 Jan 2011)
And if Sprint hadn't made the deal with Apple, it surely would have bankrupted them.
3. networkdood (Posts: 5228; Member since: 31 Mar 2010)
Hesse, by the looks of your stock, it better be one heck of a deal, and since you always dislike your competitor's proposals, expect the same back.
4. ghostnexus (Posts: 95; Member since: 07 Mar 2012)
I wish the ATT & T-Mobile Merger went through the coverage would have been insane I wouldn't mind paying extra for all that coverage
7. JeffdaBeat (unregistered)
AT&T buying T-Mobile is far different than Sprint and T-Mobile merging or one buying the other. AT&T was already second to Verizon and closing in on them as far as subscribers went (the gap between the companies were a lot larger a few years ago). When they looked to buy T-Mobile, it would have just thrown them so far over the top that not even Sprint would be able to battle them and Verizon. Oddly enough, I'm convinced that Sprint would have been looking for a buyer in Verizon in a few years.
If you took away the difference in technology, I wouldn't mind a Sprint/T-Mobile deal. The added subscribers would put them in the league of the other two companies subscriber wise and you'd still have a great deal of competition. Although it would put an insanely large gap between them and the would be 4th largest carrier. But that kind of merger would take an incredible amount of work. No one wants Deja Vu of Sprint/Nextel...
21. moofoodooloo (Posts: 137; Member since: 04 Jan 2011)
Jeff is one of the few commentors here I enjoy reading.. I don't think I've ever disagreed with one of his comments and I definitely don't disagree with this one.
39. bvalde09 (Posts: 171; Member since: 22 Nov 2011)
I think CEO Dan Heese is making a good choice here. I mean the deal of buying MEtroPCS wasnt a bad idea but on a business perspective. Sprint already adquire the Iphone. Iphone will work on the long run. I guess is like he says its just no the right time to invest or adquire a small carrier. Sprint has improve a lot, still work to do on other areas but I think is going to the right path
44. jsjr76 (Posts: 24; Member since: 28 Sep 2010)
To prayerofaltair, men that get an undergrad from Notre Dame, an MBA from Cornell, and a Masters in Science from MIT are hardly morons. From being a business owner, I totally agree with Dan. The iPhone was an investment with a longer term ROI and until 2014 that investment won't "mature" so to speak (it will start resulting in a positive return exceeding the break even)So unless the deal of a lifetime comes along, it's only smart to avoid additional big spending. Morons don't get elected CEO of a company in dire straits, launch the first 4G network, get the baddest (at the time) Android in America,get the iPhone, and launch an LTE network in 5 years. Dan Hesse took Gary Forsee's death spiral and pulled the plane out of certain disaster. He's a bad MF in my opinion and needs to keep on keepin' on.
49. downphoenix (Posts: 2134; Member since: 19 Jun 2010)
I agree, Hesse has been a great CEO overall. I think he made a pretty big mistake with betting the farm on the Iphone, sure it helped with churn but churn was going down to already historically low rates for sprint after they got the Evo, I bet if they would have released an exclusive killer android like the Droid Razr or something like that instead it would have been almost as good on that, and would have been a lot less risky manuever.