Economy

Altice agreement 'not contingent' on T-Mobile talks failing: Sprint CFO

Altice agreement 'not contingent' on T-Mobile talks failing: Sprint CFO”

Under the agreement, Altice will provide mobile voice and data service to US customers and Sprint will leverage Altice's broadband platform to upgrade its network, the company said.

Sprint Corp's (S.N) wireless partnership with Altice USA (ATUS.N) was not contingent on merger talks with T-Mobile US Inc (TMUS.O) failing, the chief financial officer of the No. 4 U.S. wireless carrier said on Monday. Both Comcast and Charter have MVNO agreements in place with Verizon, and Comcast has already launched its Xfinity Mobile offering.

Besides a nice check from Altice for using its network, Sprint will also get help in "densifying" its network from the cable company. The agreement will also allow Sprint to use the Altice cable infrastructure to send cellular data and to develop its 5G network.

US cable company Altice has jumped into the mobile telecommunications industry by partnering with Sprint, on the heels of the phone company's stalled merger with T-Mobile.

In a separate announcement, Sprint majority owner SoftBank announced it would increase its stake in the mobile network. According to the Wall Street Journal and other outlets, Sprint's controlling shareholder SoftBank has been in discussions with T-Mobile owner Deutsche Telecom to salvage a possible merger deal.

Without the T-Mobile deal, Sprint will have to work on deals like this if it hopes to ever catch up to AT&T and Verizon in terms of network quality and subscribers.

Sprint's 2.5 GHz airwaves are highly prized for their ability to transmit large amounts of data quickly, but because they don't propagate as well as lower bands, they require a highly densified network. "In exchange, Altice USA will leverage its network to support Sprint's network densification efforts and establish a differentiated network operating model going forward".



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