Spring / T-Mobile merger is closer to happening!
The U.S. Department of Justice just announced that it has approved the $26 BILLION merger of T-Mobile and Sprint… with conditions attached.
T-Mobile and Sprint will become “New T-Mobile” and have committed to building a nationwide 5G network covering 97 percent of the U.S. population within three years and 99 percent within six years.
So what are the conditions?
T-Mobile and Sprint must divest a substantial package of assets to Dish Network, including Sprint’s prepaid subsidiaries Boost Mobile and Virgin Mobile and some 800MHz spectrum. Dish will also gain access to at least 20,000 cell sites and hundreds of retail locations.
From the Sauce, FCC chairman Ajit Pai:
“I am pleased that the U.S. Department of Justice has reached a settlement with T-Mobile and Sprint. The commitments made to the FCC by T-Mobile and Sprint to deploy a 5G network that would cover 99% of the American people, along with the measures outlined in the Department’s consent decree, will advance U.S. leadership in 5G and protect competition.”
And from T-Mobile CEO John Legere:
“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. We are pleased that our previously announced target synergies, profitability and long-term cash generation have not changed.”
The merger remains subject to remaining regulatory approvals and the getting through the barrier of an antitrust lawsuit in U.S. federal court which a number of States filed in June to block the proposed transaction.
Regardless, those in the know believe that T-Mobile and Sprint will expect to see the merger being permitted to close by the end of the year.
New Releases | iPhone-Antidote | 
July 26, 2019 2:34 pm
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