Both T-Mobile and Sprint have been planning to merge with each other for a while now. Given that these are two of the four major carriers in the US, naturally this created some concerns for antitrust regulators who feared that it might result in a company that is too monopolistic for the market.In the past, we have seen similar deals get shot down, like a few years ago when AT&T and T-Mobile attempted the same thing. However, it looks like we’re in a different era now because after more than a year, the US Department of Justice has finally and officially approved the T-Mobile and Sprint merger.
The formation of the new company will be known as the “New T-Mobile” and as part of their deal with the US Department of Justice, which required them to create a competitor to fill the void, Dish will now become the fourth major carrier in the country.
In a statement made by T-Mobile’s CEO John Legere, “The T-Mobile and Sprint merger we announced last April will create a bigger and bolder competitor than ever before — one that will deliver the most transformative 5G network in the country, lower prices, better quality, unmatched value and thousands of jobs, while unlocking an unprecedented $43B net present value in synergies. We are pleased that our previously announced target synergies, profitability and long-term cash generation have not changed.”
Filed in . Read more about Legal, Sprint and T-Mobile. Source: t-mobile