T-Mobile could join a Sprint tie-up with Comcast and Charter

Reports of a potential wireless partnership between Sprint, Charter and Comcast have quieted speculation about a merger between Sprint and T-Mobile. But analysts say T-Mobile could play a role in any such arrangement.

Sprint Chairman Masayoshi Son struck a exclusive two-month deal to hold discussions with Charter and Comcast through July focusing on potential partnership arrangements. One such deal could include the cable companies taking an equity stake in Sprint and investing in the carrier’s network, through which they could presumably launch a branded service. But T-Mobile could join such an effort, Jonathan Chaplin of New Street Research wrote in a note to investors. A model that complex would be difficult to pull off, but it could benefit all stakeholders. “Actually, the best-case scenario (for T-Mobile) would be a four-way deal; however that seems tough to get across the goal line,” Chaplin wrote. “The worst-case scenario would see a Sprint/cable deal that leaves T-Mobile out in the cold entirely; we don’t think this is the most likely outcome either. And then there are a host of scenarios in between, where T-Mobile would benefit, potentially greatly, but without the negotiating leverage that many have assumed.”