Sprint, T-Mobile file merger request with FCC today2018-06-18 16:59 by Daniela
Tags: Sprint, T-Mobile
The Federal Communications Commission (FCC) has launched the regulatory review for T-Mobile's proposed $26 billion acquisition of Sprint. The two wireless companies announced Sunday (April 29) that they had struck a deal to merge that valued the combined company at $146 billion (including debt).
The new company will be named T-Mobile, and T-Mobile CEO John Legere will serve as chief executive officer. Sprint CEO Marcelo Claure and SoftBank Group Chairman and CEO Masayoshi Son will serve on the board of the new company.
The combined company will have more than 126 million customers, seeing it close in on rivals AT&T with 141 million subscribers, and Verizon with 150 million. The merger could also mean an improvement in overall5G wireless technology, which promises greater, pervasive connectivity and faster speeds, but which involves costly and complicated development efforts.
It is only the latest in a flurry of merger activity, from the approval of the AT&T-Time Warner deal by a federal judge to Comcast's announced play for 21st Century Fox assets.
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