T-Mobile buys Sprint for USD 26 billion

Companies T-mobile and Sprint have announced that they have reached an agreement by which T-mobile is to purchase Sprint for USD 26 billion, while the companies are to merge into one large entity, the global media reported.

The merger of the third and the fourth biggest American national mobile operators will create a company which will have 127 million clients and which will be more competitive in the market.

As said, the agreement was reached after several months of negotiations, and Deutshce Telekom, which is the majority owner of T-Mobile, will own a little over 40% of the new company and control its board.

The news of the merger between the companies was tweeted by T-Mobile CEO John Legere. He will remain the CEO following the merger.

The agreement will need to be authorized by the US Department of Justice and the Federal Communications Commission.

T mobile

Sprint

Deutsche Telekom

John Legere

US Department of Justice

US Federal Communications Commission

agreement of T mobile and Sprint