T-Mobile, Sprint in $26b deal
NEW YORK, April 30, 2018 (Reuters) - T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network.
The agreement capped four years of on-and-off talks between the third and fourth largest US wireless carriers, setting the stage for the creation of a company with 127 million customers that will be a more formidable competitor to the top two wireless players, Verizon Communications Inc (VZ.N) and AT&T Inc (T.N).
US regulators, who have challenged in court AT&T’s $85 billion deal to buy US media company Time Warner Inc (TWX.N), are expected to grill Sprint and T-Mobile on how they will price their combined wireless offerings.
Verizon has 116 million US wireless customers, according to a spokesman, while AT&T has 93 million branded customers, as of the first quarter.