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 ...