Sprint And T-Mobile Just Announced Mega-Merger Creating Wireless Giant With Over 127 Million Customers
After several years of speculation that T-Mobile and Sprint would merge, the deal has finally happened. The mega-merger would combine the nation’s third and fourth largest wireless carriers in an effort to compete better against industry leaders Verizon Wireless and AT&T. The all-stock deal is estimated to be $26 billion and would give the new company over 127 million customers.
Dating back to 2014, T-Mobile has attempted to acquire Sprint Wireless, but a deal never materialized until Sunday. T-Mobile CEO John Legere and his management team will head the new wireless behemoth and it will be based in Bellevue, Washington. The deal will see T-Mobile’s parent company Deutsche Telekom take control of both wireless providers. Sprint’s parent company SoftBank would take a seat on the board of the new cellular carrier. The new company will continue to be called T-Mobile.
“This combination will create a fierce competitor with the network scale to deliver more for consumers and business in the form of lower prices, more innovation, and a second-to-none network experience — and do it all so much faster than either company could do on its own,” Legere said in a statement.