JUST IN: T-Mobile and Sprint finally agree to merge

-

T-Mobile and Sprint finally agreed to a massive telecom merger after years of negotiations punctuated by two breakups.

The move combines the third and fourth largest wireless service providers in the nation. Sprint was valued at $26 billion based on its last closing price, and T-Mobile was last valued at $55 billion.

The deal gives the combined company, which will take on the name T-Mobile, an implied enterprise value of about $146 billion, according to a press release.Executives are promising to hire thousands of people in a bid to create a nationwide 5G network.

T-Mobile CEO John Legere told reporters on a conference call Sunday that the company plans to deliver “the highest capacity network in US history.

“The tie-up would position the telecom companies as fiercer competitors to Verizon and AT&T, which have long dominated the US market.”

I’m excited to announce that @TMobile & @Sprint 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 said in a tweet Sunday.

A report that the deal was getting close drove up Sprint’s stock price by 8% on Friday and T-Mobile’s price edged up as well. The stock price for SoftBank, a Japanese conglomerate with a majority stake in Sprint, rose by 3%.Sprint and T-Mobile first discussed a merger in 2014 but scrapped it because of concerns about regulatory challenges from the Obama administration.

The companies expected to have a better shot at the merger under the Trump administration.Sprint stock tanks as T-Mobile merger said to collapse SoftBank CEO Masayoshi Son met with Trump the month before he took office to talk up an investment in US businesses.

A few weeks later, T-Mobile’s Legere said he was open to “various forms of consolidation” when asked about a potential merger with Sprint and SoftBank under the Trump administration.

Related: T-Mobile and Sprint break up, again

But last November, after much speculation, the two companies issued a statement saying they “have ceased talks.””While we couldn’t reach an agreement to combine our companies, we certainly recognize the benefitsof scale through a potential combination.

However, we have agreed that it is best to move forward on our own,” Marcelo Claure, the Sprint CEO, said at the time.

Sprint and T-Mobile’s announcement is just the latest step in an ongoing movement towards telecom consolidation.

AT&T is in talks to acquire Time Warner, which owns CNN and CNNMoney. The outcome of that $85 billion merger-in-the-making depends on a case in federal court, which is pending the decision of the judge.

Comments

Post a Comment

Popular posts from this blog

MRS MARTHA DE PURENEZ DIED AT THE AGE OF 104. SHE HAD SPENT 82 YEARS IN MARRIAGE, AND SHE SAID THIS.

-
“I know that young ladies will never agree with me, but whoever will implement this shall be the happiest of all and shall make a nice home; unless otherwise.” ITEMS The husband is always right The husband is always the master of the family even if he has no job and NO MONEY The wife must ask for permission from the husband before going to bed if the husband isn’t yet in bed, as well as before turning her face away from him on the bed. The husband is still the master and has full control on all the operations even in bed If there is a quarrel with the husband and then a visitor comes, the wife should smile as if nothing happened Anytime the wife thinks she is right in a matter, she should refer herself to Article number 1 A good wife must go to bed in her nightdress with no panties or bra, (except during your monthly flow, which he must know about) to allow the husband access to her at any time he feels like (NOTE: All women should note that this is a man’s greatest desire in ...
Read more

SIXTEEN UNWRITTEN RULES YOU MUST KNOW AND OBSERVE AT ALL TIMES

-
Don’t call someone more than twice continuously. If they don’t pick up your calls that means they have something more important to attend to, or they are not near their phones at that time. 2.When your colleague/ classmate/teammate or neighbour gets shouted at, please don’t stare at them. It makes the moment twice awkward. 3.When someone drops something on the floor by mistake, drops food from the plate or doesn’t know how to use a knife/fork don’t stare at them. The same goes to people sneezing, coughing or even letting out an uncontrollable fart. They are all involuntary actions. Always skip using the washroom beside the occupied one. It makes it uneasy for the person in the occupied washroom as well as yourself, if you occupy the one right next to theirs. Return money that you have borrowed even before the other person remembers that he lent it to you, be it big or small. It shows your integrity and character. Same goes with borrowed umbrellas, pens, lunch boxes or any...
Read more

Lawyer Of Major Mahama ‘Killers’ Not Watched Lynching Video

-
Image
Legal representative of four of the accused in the killing of Major Maxwell Adam Mahama says he has yet not watched the social media videos of the lynching. “That is intentional because I don’t want to disabuse my mind,” he said. George Bernard Shaw says even the video may have been doctored – against his clients – under the circumstances while circulating on social media as a result of public anger against his clients. He was speaking on TV3’s Hot Issues on Saturday. Lawyer Bernard Shaw said even before the trial proper begins, he has had to face opprobrium from a large section of the public including the police officers guarding the suspects. He claims some of the suspects were beaten and manhandled by the officers to the extent that the assemblyman, William Baah, who is accused of inciting the youth against the army officer, suffered head scars. He was suspicious of the video, which impassioned Ghanaians, saying: “I don’t know the source”. He, however, admitted that he will wat...
Read more