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T-Mobile, Sprint to merge in all-stock deal
"T-Mobile US Inc. and Sprint Corp. agreed on Sunday to merge in an all-stock transaction, following on-again, off-again talks to combine the two companies." foxbusiness.com/markets/t-mobile-sprint-to-merge-in-all-stock-deal
T-Mobile and Sprint to Attempt Merger
T-Mobile and Sprint have reached an agreement to merge. The combined company would be called T-Mobile. Now they face the regulators, and are already arguing for it as a move for America to remain competitive with China on 5G:
T-Mobile and Sprint reached a $26.5 billion merger agreement Sunday that would reduce the U.S. wireless industry to three major players — that is, if the Trump administration's antitrust regulators let the deal go through. The nation's third- and fourth-largest wireless companies have been considering a combination for years, one that would bulk them up to a similar size as industry giants Verizon and AT&T. But a 2014 attempt fell apart amid resistance from the Obama administration.
Consumers worry a less crowded telecom field could result in higher prices, while workers unions are concerned about potential job losses.
In a conference call with Wall Street analysts, Sprint CEO Marcelo Claure acknowledged that getting regulatory approval is "the elephant in the room," and one of the first things the companies did after sending out the deal's news release was to call Ajit Pai, chairman of the Federal Communications Commission. The companies stressed that they plan to have more employees following the combination, particularly in rural areas, than they do as stand-alone companies now. They also emphasized that the deal would help accelerate their development of faster 5G wireless networks and ensure that the U.S. doesn't cede leadership on the technology to China.
And they said the combination would allow them to better compete not only with AT&T and Verizon but also with Comcast and others as the wireless, broadband and video industries converge. "This isn't a case of going from 4 to 3 wireless companies — there are now at least 7 or 8 big competitors in this converging market," T-Mobile chief executive John Legere said in a statement.
T-Mobile press release. Also at Bloomberg.
(Score: 3, Informative) by realDonaldTrump on Monday April 30 2018, @05:25PM
The majority shareholder of T-Mobile is Deutsche Telekom. Germany owns a big piece of DT. Big piece. And the majority shareholder of Sprint is SoftBank Group -- that one is Japanese. When they merge, no majority shareholder. But DT will be the biggest. Despite what you have heard from the Fake News, I had a GREAT meeting with German Chancellor Angela Merkel.
Let me tell you, the CEO of SoftBank Group made me a tremendous promise. They're going to invest $50 billion in our economy and create 50,000 jobs. Part of the 25 MILLION new jobs in my plan. And they've already started, they invested $1 billion. So I want them to do very well. So the American people will do very well. And I will win again in 2020.
Believe me, this isn't about President Bill Clinton's $200 Billion Broadband Scandal (very corrupt). Sprint wasn't part of that. And T-Mobile wasn't part of it. You're thinking of the Bell companies. This is about the cell phones. Many people are saying, it's very unfair that Sprint & T-Mobile pretended to be small businesses, they call it Designated Entities. And it was unfair. That was a Bush Jr. number. It was a long time ago. And maybe, probably not, our government can get that money -- billions of dollars -- back. But the merger won't stop us from getting it back. And stopping the merger won't get you your broadband. You don't have Sprint broadband, you don't have T-Mobile broadband. Right? If you were going to get it, you would have it by now. Because broadband is not so new. They were talking about it in the time of Bush Original.
America is in the game and we're going to win. To win, we must compete with every instrument of our national power. If our companies are small & weak, we'll lose big time!!!