Softbank CEO plans to start a massive price war if Sprint is allowed to buy T-Mobile [VIDEO]
It’s no secret that Sprint, as well as new parent company Softbank, are licking their lips at a chance to buyout T-Mobile. Sprint has long been vocal about their interest in T-Mobile, and in an interview with Charlie Rose, Softbank CEO (and Sprint chairman) Masayoshi Son further echoed this sentiment.
A bit apprehensive at first, Son attempted to change the subject about a possible T-Mobile merger, but Rose persisted. Eventually Son came clean, calling the current state of the US cellular industry a “pseudo competition,” going on to to say that the only real challenge Verizon and AT&T face is if US regulators allow Sprint to merge with T-Mobile. It’s the combining of these forces that would finally pose a real challenge to Verizon and AT&T’s stronghold in the US, with Sprint leading the charge in a massive price war.
“I would go for price competition very aggressively, and network competition to create the world’s best network. I want to be #1.”
Considered a “maverick” in his homeland of Japan, the Softbank CEO is set to discuss these issues and more during his trip to Washington tomorrow. It was there, both CEO Dan Hesse and Masayoshi Son are said to have met with the FCC and DOJ last month to talk T-Mobile, before things went sour. There’s no question Softbank and Sprint have an uphill battle ahead of them. It’s not often someone promises less competition will lead to lower prices for consumers, but it’s something Softbank is hoping to prove during tomorrow’s presentation.
[WSJ]