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Boost Mobile Founder Interested in Buying Back Prepaid Brand

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With the proposed merger between T-Mobile and Sprint coming to a close, there is still very little known about what would happen to Sprint's prepaid brand, Boost Mobile. Just a few months ago, Dish Network showed interest in buying the prepaid brand so that the merger could get approved. But now, it looks like Boost Mobile's founder, Peter Adderton, is interested in buying back the prepaid brand.

According to a report from Reuters, Adderton is willing to pay up to $2 billion for the prepaid brand. Going back to Dish's offer, the cable company offered to buy Boost Mobile for $1.5 billion and the spectrum assets owned by the two companies for $3.5 billion.

Back in July, U.S. regulators approved the $26.5 billion merger between T-Mobile and Sprint. But in order to get that approval, the two companies had to agree to sell the prepaid brands of Sprint, which include Boost Mobile and Virgin Mobile.

As of this writing, the proposed merger still has to go through the lawsuit that state attorneys general earlier filed. The lawsuit alleged that the merger was harmful to consumers since it reduced the competition among providers.

Ever since T-Mobile and Sprint announced their proposed merger last year, Adderton had been very vocal about his opinion on social media. The former founder believed that the merger would be harmful for consumers who largely depended on prepaid phones as the merger would increase prices. In addition to this, Adderton has questioned the commitment Dish had in serving Boost Mobile customers. Especially since Dish had its eyes set on building a 5G wireless network, it would be difficult for them to make sure consumers would be prioritized.

As the original founder of Boost Mobile, Adderton put up the company in Australia. He sold the U.S. business to Nextel in 2004, and was acquired by Sprint Corp. eventually.


Source: Reuters 

1 comments:

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  1. Sounds the interest by adderton is to spite Diah...

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