Verizon Says “No Thanks” To Sprint
According to Reuters, the Verizon Wireless’ CEO is not interested in buying Sprint Nextel, even though Verizon is about to lose its lead in the U.S. wireless market due to AT&T’s recent acquisition. Chief exec, Daniel Mead also expressed a disregard for AT&T’s buy, claiming that they are focused on increasing their own profits. Mead sees no need to buy Sprint at this point. This statement came out just before the CTIA wireless trade show.
The company’s headquarters, located in New Jersey purchased Alltel Wireless in January of 2009 for a price tag at 28 Billion USD. So, just looking at their “recent” company history clues us that they are not ready to make another big purchase just yet. Will this be the case five years down the road? I think it depends on many factors with AT&T and their growth. If Verizon is the first to acquire some new technology, service, or feature, the entire game can shift in their favor, thus focusing on a new strong point.