The deal, which would combine the third- and fourth-largest US wireless carriers, is expected to come under serious scrutiny from antitrust regulators, as the Trump administration has The agreement marks the culmination of four years of on-again, off-again discussions between T-Mobile and Sprint; this is the third time the two rivals have tried to merge. With a combined 127 million customers, the two firms are expected to compete directly with "This isn't a case of going from four to three wireless companies — there are now at least seven or eight big competitors in this converging market," Legere said on Sunday. The breakthrough in the companies' negotiations came after T-Mobile majority-owner Deutsche Telekom and Japan's SoftBank, which controls Sprint, agreed on a structure that would allow Deutsche Telekom to continue to consolidate the combined company, which will have a market value of over $80 billion, on its books. Sprint's parent, Japanese telecom titan SoftBank Group, run by Sprint chairman Son, would own 27% while the remaining ownership would be public. "This combination will create a fierce competitor with the network scale to deliver more for consumers and businesses in the form of lower prices, more innovation, and a second-to-none network experience — and do it all so much faster than either company could on its own," Legere said in an Sprint's CEO, Marcelo Claure, added: "We intend to bring this same competitive disruption as we look to build the world's best 5G network that will make the US a hotbed for innovation and will redefine the way consumers live and work across the US, including in rural America." The all-stock transaction is at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share, or the equivalent of 9.75 Sprint shares for each T-Mobile US share. Since then, Sprint's shares lost about a fifth of their value amid questions about how the company can compete effectively under the weight of its long-term debt of more than $32 billion. Follow live trading on Markets Insider The boards of T-Mobile and Sprint have put the finishing touches on a massive merger agreement that values a combined company at $146 billion.T-Mobile's CEO, John Legere, made the announcement on Sunday by tweeting a seven-minute video breaking down the merger and linking to a website that further explains the combination.Deutsche Telekom, which owns two-thirds of T-Mobile, would control the newly formed company.Legere is expected to be the CEO of the combined entity, which would keep the T-Mobile name and have headquarters in Bellevue, Washington, and Overland Park, Kansas.The deal, which would combine the third- and fourth-largest US wireless carriers, is expected to come under serious scrutiny from antitrust regulators, as the Trump administration has fervently opposed AT&T's proposed mega-acquisition of Time Warner The agreement marks the culmination of four years of on-again, off-again discussions between T-Mobile and Sprint; this is the third time the two rivals have tried to merge.With a combined 127 million customers, the two firms are expected to compete directly with Verizon , the US's largest carrier, and AT&T "This isn't a case of going from four to three wireless companies — there are now at least seven or eight big competitors in this converging market," Legere said on Sunday.The agreement involves T-Mobile exchanging 9.75 Sprint shares per unit of T-Mobile.
T-Mobile US and Sprint agree to merge in a deal valued at US$146 billion. The merger is subject to approval from regulators.