Sprint and T-Mobile won't be merging after all.
After a period of protracted flirting with the idea, Sprint's parent company opted not to merge the company with its rival cellular provider.
Reports indicating a merger surfaced late last month, and experts expected Deutsche Telekom, T-Mobile's parent company, to become the controlling owner.
But Softbank, Sprint's owner, seems to have soured on the idea. Its board reportedly voted last week not to give up control. And both companies skipped conference calls with investors last week to avoid discussing the merger, according to the Wall Street Journal.
Sprint and T-Mobile's merger talks go back years. A similar deal was canceled over regulator concerns back in 2014.
The Wall Street Journal reports, "instead of a merger, Sprint plans to make a significant investment in its network."