In a reversal of earlier reports, it looks like Sprint has decided to table its acquisition of T-Mobile according to The Wall Street Journal’s sources.

With backing from its parent company Softbank, Sprint was reportedly to be interested in purchasing T-Mobile in a deal that at one point was reported to be $40 a share.

One sticking point in the potential deal could have been the FCC. The commission killed a proposed acquisition of T-Mobile by AT&T in 2011.

Also, according to Bloomberg, Sprint CEO, Dan Hesse is out and the carrier could be announcing a new CEO as early as tomorrow.

Sprint sent TNW the following statement:

Sprint has no comment on rumors and speculation.

Not surprising considering the company never officially made a bid for T-Mobile.

➤ Sprint Abandoning Pursuit of T-Mobile [WSJ]