T-Mobile & Sprint Announced a $26 Million Merger Agreement

After many rumors, finally, the merger of T-Mobile & Sprint is announced. They are the third largest most wireless phone carriers. After the merger, a new company will be named as T-Mobile. CE0 John Legere will be the head of new T-Mobile.

After Tmobile & Sprint Merger, the New company will be called T-Mobile

It is not the first time T-Mobile & Sprint have decided to get into an official agreement as in 2014, Sprint tried to buy T-Mobile, however, the deal was not successful. In 2017, again both companies tried to tie a knot however again ended up not agreeing to terms. It means both companies tried for three times and finally succeeded.

Under the deal, T-mobile’s majority holder Deutsche Telekom will own 42 percent of the company whereas Sprint’s owner SoftBank will have 27 percent of new T-Mobile. This merger will be an all-stock deal worth $2billionon and is expected to close sometime in early 2019.

While telling about the deal, Legere said that:

Merger between T-Mobile and Sprint will “shift this Un-carrier revolution into overdrive,” stating that adding the assets from Sprint will allow T-Mobile to offer both a broad and deep 5G wireless network nationwide when it is ready to launch. He added that it will also foster more competition for wireless, broadband and video services, “especially in rural America where choices are limited today.”

The deal will be confirmed once all the shareholders approve it and when u.S. government regulations will approve it.

Also Read: T-Mobile and Sprint Merger to happen at the end of this Month