Sprint ends bid for T-Mobile

Looks like Sprint doesn't want T-Mobile as part of its "framily" after all.
 
The Kansas City Business Journal reports that Sprint Corp. is no longer wanting to buy rival T-Mobile US Inc., blaming "onerous" regulatory hurdles for dropping its bid. Regulators expressed concern that a combined Sprint and T-Mobile would reduce wireless carriers to only three major providers, Sprint/T-Mobile, AT&T and Verizon Wireless. Sprint executives had countered that the combined company would only be more competition for the two larger carriers, not create a monopoly in the wireless marketplace.
 
In what is being called an unrelated decision, Sprint CEO Dan Hesse is leaving after seven years in the post. The departure has been hinted at for months, according to the report.

Read more from the Kansas City Business Journal.