T-Mobile, Sprint merger moves ahead following deal with DISH

T-Mobile, Sprint merger update : The US Department of Justice has cleared the proposed $ 26 billion merger of T-Mobile US and Sprint to create New T-Mobile following both the companies’ agreements with DISH Network.

Under the deal with DISH, New T-Mobile will divest all Sprint’s pre-paid businesses, including Boost Mobile and Virgin Mobile, and Sprint’s 800 MHz spectrum assets to DISH for aggregate proceeds of $5 billion.

DISH wireless customers will have access to New T-Mobile network for seven years on the closing of the divestiture transaction.

New T-Mobile will provide standard transition services arrangements to DISH for up to three years during the transition period.

Subject to any assignment restrictions, DISH will also have an option to take on leases for certain cell sites and retail locations that are decommissioned by New T-Mobile for five years.

However, the agreements with DISH are subject to successful closure of T-Mobile, Sprint merger.

T-Mobile, Sprint merger update : T-Mobile, Sprint merger moves ahead following deal with DISH. Hans Weingartz/Wikipedia.org.

Commenting on T-Mobile, Sprint merger update, John Legere – T-Mobile CEO and New T-Mobile CEO, said: “The T-Mobile and Sprint merger we announced last April will create a bigger and bolder competitor than ever before — one that will deliver the most transformative 5G network in the country, lower prices, better quality, unmatched value and thousands of jobs, while unlocking an unprecedented $43B net present value in synergies.”

Subject to remaining regulatory approvals and other customary closing conditions, T-Mobile Sprint merger is said to generate synergies with a net present value of US$43 billion.

Marcelo Claure – executive chairman of Sprint, commenting on T-Mobile Sprint merger update, said: “Today’s clearance from the DOJ, along with our anticipated approval from the FCC, will allow the U.S. to fiercely compete for 5G leadership.”

T-Mobile, Sprint merger is expected to be completed in the second half of 2019 after receiving final federal regulatory approval, expected in Q3.

America’s Un-carrier, T-Mobile US offers services through its subsidiaries and operates its flagship brands, T-Mobile and Metro by T-Mobile.

Sprint, known for developing, engineering and deploying innovative technologies, served 54.5 million connections as of March 31, 2019.

For more mobile industry news and business acquisition news like T-Mobile, Sprint merger news and T-Mobile, Sprint merger update, keep following Business News Today.