T-Mobile wraps up merger with rival US telecom company Sprint
T-Mobile acquisition of Sprint : US wireless network operator T-Mobile US has wrapped up its previously announced $26 billion merger of rival telecommunications company Sprint Corporation in a move to create New T-Mobile, a supercharged Un-carrier that can deliver a transformative 5G network.
The enlarged entity will be owned by T-Mobile US and operate under the T-Mobile brand. The merger deal was announced in April 2018.
The commitment of New T-Mobile will be to build the best broad and deep nationwide 5G network in the world. The enlarged wireless network operator is expected to offer lightning-fast speeds to both urban areas and underserved rural communities. It is claimed to have 14 times more capacity in six years than what T-Mobile had before the merger closing.
According to T-Mobile, the improved scale and financial strength of the combined firm will drive a planned investment of $40 billion into its network, business and more in the coming three years. Synergies realized from the integration can potentially unlock massive scale and deliver more than $43 billion in value for shareholders, claimed T-Mobile.
T-Mobile wraps up merger with Sprint to create the New T-Mobile. Photo courtesy of Business Wire.
Commenting on the closing of T-Mobile acquisition of Sprint, Mike Sievert – president and CEO of T-Mobile, said: “During this extraordinary time, it has become abundantly clear how vital a strong and reliable network is to the world we live in. The New T-Mobile’s commitment to delivering a transformative broad and deep nationwide 5G network is more important and more needed than ever and what we are building is mission-critical for consumers.
“With this powerful network, the New T-Mobile will deliver real choice and value to wireless and home broadband customers and double down on all the things customers have always loved about the Un-carrier. T-Mobile has been changing wireless for good — and now we are going to do it on a whole new level!”