Sprint boss says AT&T bid will harm competition

SPRINT boss Dan Hesse has blasted the proposed $39bn (£24bn) merger between rivals AT&T and T-Mobile USA, saying it would stifle innovation and hit consumers.

He said the deal would mean the top two players – the newly merged venture and Verizon Wireless – would control 79 per cent of the market.

Hesse said: “I do have concerns that too much power would be in the hands of two.”

He said it is up to regulators to make a decision over whether to intervene in the deal.

Sprint’s shares plunged 16 per cent after the announcement.

The boss of the fourth major player in the market, Verizon Wireless, also waded in to the debate, saying his firm is not interested in merging with smaller rival Sprint.

Daniel Meade said Verizon “doesn’t need them,” saying he wanted to be part of the most profitable operator, not the largest.