Sprint And T-Mobile Announced A Merger. Here’s What It Means For The Wireless Industry
The new company will be called T-Mobile Already frustrated with the lack of options when it comes to picking a cell phone provider? T-Mobile and Sprint have reached an agreement to merge, the companies announced on Yesterday. If successful, that would shrink the number of major wireless carriers in the United States to three. Shareholders and regulators would still have to approve the $26 billion deal, which the companies have tried twice before. In a joint statement, the wireless carriers said the combined company will have lower costs and better quality that could essentially help them compete with AT&T and Verizon. The proposed all-stock deal values Sprint at about $59 billion and while T. Mobile is valued at $146 billion. The combined company will be based in Bellevue Washington and will be called T-Mobile. Current T-Mobile CEO John Legere will run the combined company, while T-Mobile COO Mike Sievert will become the new company’s COO and President. T-Mobile’s majority owner D