Charter's Shares Surge Following SoftBank's Merger Interest

The logo of Soft Bank Group Corp is displayed at Soft Bank World 2017 conference in Tokyo

"Sprint reached an important milestone this quarter by returning to profitability for the first time in three years", said Marcelo Claure, Sprint chief executive.

This year hasn't been an especially fruitful one for Sprint Corp (NYSE:S) shareholders.

Sprint has long sought a deal as it is unprofitable and the wireless market has gotten more competitive.

Sprint said its capital expenditure (Capex) excluding devices leased through indirect channels will be $3.5 billion to $4 billion during the current fiscal. Son tried to engineer a merger between the two back in 2013, after SoftBank's $21.6 billion acquisition of Sprint, and has recently resumed his pursuit.

Sprint added 61,000 total users in the quarter. "We have spoken to everybody and we have choices and when the time is right we going to strike a deal", he said.

We understand why it is attractive for SoftBank, buy Charter has no interest in acquiring Sprint.


He did say he was surprised by some of the reports around a potential tie-up with Charter Communications Inc. The stock rose in early trading, but you'd be wrong to think this means Sprint is out of the woods.

What Claure didn't discuss was the slight decrease in the company's total liabilities.

Potential M&A: Claure was understandably coy about which company-or companies-Sprint might be most likely to partner with, saying multiple times that the carrier has "plenty of options". According to CNBC, Sprint said it cut its cost of services and selling, general and administrative expenses by about $370 million in the quarter and that it expects an additional $1.3 billion to $1.5 billion of year-over-year reductions in fiscal 2017. Sprint's quarterly profit amounted to $206 million, up from a $302 million loss in the same period previous year.

Net operating revenue was $8.16 billion, up from $8.01 billion.

Sprint also scored 35,000 new pre-paid additions, up from a loss of 306,000 in the same period a year ago, but less than the 291,000 prepaid additions in the preceding quarter.

Both Comcast and Charter already have an MVNO deal with Verizon Wireless but are still adamant to explore business opportunities with Sprint as the Overland Park, Kansas-based carrier is understood to be ready to offer them more favorable terms.

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