Sprint Chairman justifies possible T-Mobile acquisition

|About: Sprint Corporation (S)|By:, SA News Editor

Sprint (S) Chairman Masayoshi Son reasons that the rise in telecom and cable mergers should allow his company to buy rival T-Mobile (TMUS). Three big mergers have taken place in recent months with Verizon (VZ) acquiring Vodafone (VOD) for $130B, Comcast (CMCSA) buying Time Warner Cable (TWC) for $45B, and the AT&T (T) purchase of DirecTV (DTV) for $49B.

"Access to the Internet is currently dominated by three giants with no sizable competitor," says Son.

Although the company has not yet made a formal bid on T-Mobile, it looks to lay the framework for a future purchase.

Antitrust authorities have previously frowned on such a deal, as it would cut the number of national competitors in the wireless industry to three from four.