T-Mobile CEO John Legere thinks Verizon will make a “stupid acquisition” within the next six months.
Legere was not specific in his interview on CNBC on Tuesday, but he could have been referencing reports about Verizon’s interest in Yahoo.
He told CNBC, “Verizon’s about to take over as dumber from AT&T. I make that prediction. In next six months, they’re going to do some stupid acquisition. Millennials still will hate them.”
Legere has frequently referred to competitors Verizon and AT&T as dumb and dumber.
Of course, Legere’s brashness in interviews and on Twitter is well known.
According to several reports, Verizon is one of the frontrunners in the bid for Yahoo’s core internet business which CEO Marissa Mayer has struggled to turn around.
Last year, Verizon completed its acquisition of AOL for $4.4 billion, to take advantage of its digital- and video-ad platforms. One plus of a Verizon-Yahoo combo is that Yahoo’s huge web traffic could boost Verizon’s online video-streaming service.
But of course, Legere could have been thinking about any other possible “stupid acquisition.”
We’d note he told CNBC that Verizon “frankly wants to be in a different business” for millennials, while T-Mobile is beefing up on promos to attract new cellular customers.
Bob Varettoni, Verizon’s executive director of media relations, told Business Insider that the company is not shy about funding future growth, and re-invests over $17 billion in capital annually on great networks and services for customers.
He declined to comment on reports of Verizon’s bid for Yahoo.