IT'S OFFICIAL: T-Mobile and Sprint are coming together to form a $146 billion new company to take on Verizon and AT&T
The boards of T-Mobile and Sprint have put the finishing touches on a massive merger agreement that values the combined company at $146 billion.
T-Mobile USA chief executive officer John Legere made the announcement by tweeting a seven-minute video breaking down the merger, also including a link to a website further explaining the combination.
I’m excited to announce that @TMobile & @Sprint
— John Legere (@JohnLegere) April 29, 2018
have reached an agreement to come together to form a new company – a larger, stronger competitor that will be a force for positive change for all US consumers and businesses! Watch this & click through for details.
Legere will be CEO of the newly combined entity, will keep the T-Mobile name, and have headquarters located in both Bellevue, Wash. and Overland Park, Kan.
The all-stock deal values Sprint at 0.10256 per T-Mobile share, or $6.62 a share, based on T-Mobile's last closing price. That valued Sprint at around $26 billion.
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Monday, April 30, 2018
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