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T-Mobile, Sprint Announce Merger Plans, Deal Will Combine 3rd and 4th Largest US Telecom Companies

T-Mobile and Sprint on Sunday announced a plan to merge in a deal that would reduce the number of wireless carriers in the U.S. from four to three. According to the press release issued at noon on Sunday, the combined company will be called T-Mobile, and it will have the network capacity to rapidly create a nationwide 5G network — "The new company will be able to light up a broad and deep 5G network faster than either company could separately." According to a report from Reuters today, winning U.S. regulatory approval for a $26 billion tie-up is the biggest hurdle to completing the deal. "Sprint and T-Mobile had called off their last merger talks in November, partly because SoftBank did not want to cede control of Sprint. This time, the companies touted tax reforms from the Trump administration, synergies at present value of $43 billion and plans to invest billions on developing 5G network."

By CircleID Reporter – CircleID's internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us. Visit Page

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