You may not see T-Mobile CEO John Legere bashing Sprint on Twitter later this year. That’s because Sprint is reportedly gearing up to acquire T-Mobile and make Legere CEO of the new company.
Bloomberg reported today that Sprint has met with six banks in preparation of a bid for T-Mobile. Sprint’s interest in acquiring the Bellevue-based carrier has been rumored for a while, but now the company is expected to make a formal bid in June or July, according to Bloomberg.
Sprint, which was acquired this past July by Japan-based SoftBank, still needs to clear several regulatory hurdles, especially since the deal would combine the third and fourth-largest wireless carriers in the U.S.
Bloomberg also noted that outspoken T-Mobile John Legere is the front-runner to become the new CEO of the combined company. Legere, who would replace current CEO Dan Hesse, had this to say about Sprint following the company’s earnings report on Monday, which noted a net loss of 467,000 subscribers:
Sounds like a lot of people took my advice to #SprintLikeHell
— John Legere (@JohnLegere) April 29, 2014
Here’s what Legere said about Sprint back in January at the big CES conference in Las Vegas:
“OK, Sprint. I will make this quick. Sprint is a pile of spectrum waiting to be turned into a capability. Right now, their network is completely horrible. They have got high, medium and low and they keep talking about ‘pardon our dust while we redecorate.’ Why then right after do they keep announcing things? The network monetization plan took forever. That Spanky thing or whatever that they announced, Sparky, I mean come on. People in lab coats talking about what’s going to happen when my daughter is president of the United States. That’s another thing where I would just say, whether it’s this the zombie commercials or James Earl talking about the tweets that I have no idea what they were talking about. Student plans at Best Buy. Did I really hear “framily” yesterday? But I wasn’t surprised because last week I heard they might bring the Nextel brand back.
“I would just summarize them as an impaired brand right now with a network capability that won’t be here for a while. Customers should be able to leave, and when it turns out to be whatever they are going to have that ‘Beams up Scotty’ then go back.”
Since Legere took over the company in 2012, T-Mobile has increased its customer base with the launch of “Simple Choice” plans and other similar unique deals. AT&T previously tried to acquire T-Mobile — the nation’s fourth-largest wireless carrier behind Sprint — in 2011, but ended its bid after running into repeated regulatory roadblocks.