Confirming a Bloomberg report from Friday, The Wall Street Journal says Charter Communications (NASDAQ:CHTR) is indicating no interest in merging with lagging telecom Sprint (NYSE:S). Charter is indicating it will stick with its existing resale agreement with Verizon (NYSE:VZ) rather than switching to Sprint, the WSJ says. That's despite a sales pitch from Sprint's Masayoshi Son that Sprint would be able to offer better terms, and an initiative to merge Charter and Sprint and make them into a publicly traded entity that would be controlled by Son's SoftBank (OTCPK:SFTBY). This new announcement effectively kills the immediate prospect of a Charter-Sprint deal, the report says. Sprint investors will surely turn their eyes back to talks with T-Mobile (NASDAQ:TMUS).

Source: Wall Street Journal July 31, 2017 02:48 UTC