Japan’s conglomerate SoftBank, which owns Sprint, has pulled the plug on a proposed merger between the two carriers, several news outlets reported on Monday. From a report: SoftBank will reportedly propose ending merger talks with T-Mobile parent company Deutsche Telekom as soon as Tuesday, October 31st. That’s according to Nikkei, which says that SoftBank wants to end merger talks due to “a failure to agree on ownership of the combined entity.” It’s said that Deutsche Telekom insisted on a controlling stake of the combined T-Mobile-Sprint, and that some people at SoftBank were okay with that as long as SoftBank had some sort of influence. However, SoftBank’s board recently decided that it wouldn’t give up control, and today it decided that it wants to call off the merger talks. Sprint and T-Mobile shares fell following the media reports.

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Source: Slashdot – Sprint Owner SoftBank Calls Off T-Mobile Merger Talks, Reports Say