T-Mobile CEO says Verizon will make a ‘stupid acquisition’ soon

Verizon and Yahoo

T-Mobile CEO John Legere believes Verizon will make a monumentally “stupid acquisition” within the next six months.

While Legere was not specific in his interview on CNBC on Tuesday, he very well could be referring to the company’s interest in acquiring Yahoo’s core business.

He told CNBC: “Verizon’s about to take over as dumber from AT&T. I make that prediction. In [the] next six months, they’re going to do some stupid acquisition. Millennials still will hate them.”

Leger regularly refers to Verizon and AT&T as “dumb and dumber.”

Verizon is believed to be a frontrunner in the bidding process for Yahoo’s core internet business, although that rumor has not been confirmed by either company.

In 2015, Verizon acquired AOL for $4.4 billion, allowing the company to bolster its digital and video ad platform. A Yahoo acquisition could help bolster Verizon’s online video advertising network.

Leger did tell CNBC that Verizon “frankly wants to be in a different business” for millennials.

Retailers on the Brink of Coronavirus-Induced Bankruptcy

Verizon for its part has never shied away from acquisition and spends $17 billion annually to grow its business in various ways.

Written by John Howard

John Howard

John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business.