SoftBank CEO: Verizon, AT&T have oligopoly in the US

The comment comes as rumors suggest his subsidiary Sprint is eyeing a possible T-Mobile buyout.

SoftBank CEO Masayoshi Son isn't so pleased with the way the US mobile market looks at the moment.

Speaking to reporters in Japan on Wednesday, Son said that AT&T and Verizon Wireless, the two largest telcos in the US, have an oligopoly in the market, according to Reuters. It's not clear whether his comments went beyond that complaint, but Reuters did say that he wouldn't comment on his subsidiary Sprint or the possibility of that company merging with T-Mobile.

Several reports have suggested recently that SoftBank and Sprint are considering a deal to acquire T-Mobile. Although SoftBank has yet to confirm that, there's some speculation that US regulators might not view a merger between the companies favorably.

T-Mobile is no strange to takeovers. AT&T tried to take over T-Mobile before US regulators nixed the plan. Although a combined force of Sprint and T-Mobile might more effectively compete against Verizon and AT&T, T-Mobile CEO John Legere last month threw cold water on any rumors surrounding a takeover, saying that he plans to maintain T-Mobile's independence.

Featured Video
6
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

Apple to introduce next iPhone Sept. 9

A ton of new iPhone 6S details have hit; new strange data comes from the Ashley Madison leak; and Instagram says goodbye to the square photograph (sort of).

by Jeff Bakalar