T- Mobile Agrees To Merge With Sprint In A $26 Billion Dollar Deal – CWEB.com
T-Mobile Us Inc., (TMUS) agrees to purchase Sprint Corp (S) for 26 billion dollars. The deal must pass antitrust regulators. T-Mobile CEO John Legere of T-Mobile will remain at CEO and states that they will be hiring 5,000 workers helping them lead the way to the highest 5G capacity Network in the industry. The combined companies would invest $40 billion upgrade its 5G network. T-Mobile is valued at 65 billion dollars.
The merger was first discussed in 2014 but the deal fell flat. Competition benefits consumers but this one may be tough to get through regulators to allow the deal to pass. Consolidation in the industry is happening Time Warner Inc. (NYSE: TWX) looks to be acquired by AT&T Inc. (NYSE: T). The $85 billion-dollar Time Warner and AT&T merger is still tied up in federal court.
Should this deal get approved there will be a lot more competition with AT&T who is trying to acquire Time Warner. Should this deal be approved T-Mobile will have a combined operation of 120 million users.
Read Full Article and Videos CWEB.com – Trending News, Blog, Shopping