Published: Mon, April 30, 2018
Markets | By Otis Pena

Mobile, Sprint announce merger

Mobile, Sprint announce merger

"We intend to bring this same competitive disruption as we look to build the world's best 5G network that will make the USA a hotbed for innovation and will redefine the way consumers live and work across the USA, including in rural America".

The video focuses extensively upon creating a nationwide 5G network. Here's what Legere said on Twitter this morning.

"Together with Sprint's enterprise capabilities and the new company's combined resources, we can create a real alternative and give businesses and government customers real competition", said Sprint CEO Marcelo Claure. T-Mobile, on the other hand, has successfully gained subscribers in recent years by implementing aggressive marketing and pricing plans. Company operations will be split between headquarters in Bellevue, Washington, and Overland Park, Kansas.

"#KC has been a great home and will continue to thrive as a 2nd headquarters so that @Sprint and @TMobile can leverage the BEST talent from both orgs", Claure said. Under the newly announced merger, Legere would serve as leader of the combined company. T-Mobile, however, has been growing and making consumer-friendly changes, such as doing away with two-year contracts and bringing back unlimited data plans.

Hit the link below for more details.

More information can be found on their respective websites.

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Legere said the new T-Mobile will spend $40 billion to integrate the companies in the first three years after the deal closes, a "huge portion" of which will be spent on jobs to build out network, business and retail capacity.

Sprint and its owner, Japanese conglomerate SoftBank, have always been looking for a deal as the company struggles to compete on its own.

The combined company still wouldn't be able to fully compete as Verizon, AT&T and Comcast morph into communications-and-content giants.

For Sprint, the troubles have been more acute, not the least because it holds considerable debt. We can see what happens when you have three equally sized wireless players by looking at Canada. The deal with Deutsche Telekom, which owns more than 60 per cent of T-Mobile, was seen by some Wall Street analysts as necessary ahead of the looming shift to 5G wireless technology. Consumers are paying less for cellphone service thanks to T-Mobile's influence on the industry and the resultant price wars.

"I'm talking 30X more capacity than T-Mobile today!" Elizabeth Warren, D-Mass., policymakers recently have sounded out against these deals and may train their fire soon on T-Mobile and Sprint's latest gambit.

Prosecutors have also sued to stop AT&T's vertical merger with Time Warner. The Justice Department is wrapping up its trial to block that $85 billion merger, and a court decision is expected in the coming weeks.

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