T-Mobile and Sprint Ink $26 Billion Merger Deal

T-Mobile and Sprint have agreed on a $26 billion telecom merger, ending a behind-the-scenes negotiations saga that dragged on for years. T-Mobile CEO John Legere announced the deal to reporters Sunday, saying the company hopes to deliver “the highest capacity network in U.S. history” with its planned nationwide 5G network. The combined company, which will operate under the T-Mobile name, will be “a larger, stronger competitor that will be a force for positive change for all US consumers and businesses,” Legere tweeted. The two companies—the third and fourth largest wireless service providers in the country—will merge for an implied enterprise value of $146 billion, giving the new company a stronger competitive edge over Verizon and AT&T. Negotiations for the merger began in 2014 and repeatedly fell apart before finally getting a second wind recently.

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SOURCE: The Daily Beast