Trust me, I know you’ve heard the “T-Mobile and Sprint are merging” story over and over, and nothing ever happens. Well, whatever roadblock was in the way was finally demolished, and the two companies have officially announced a multi-billion dollar merger that will combine both carriers to compete with Verizon and AT&T.
The merger is being valued at around $26 billion and will have both network operators merge under T-Mobile’s name. Makes sense, considering T-Mobile has built a much stronger brand under John Legere these past few years. The company will have two headquarters based on where T-Mobile and Sprint both currently are, and Legere will be heading up everything as CEO.
If you’re interested in the specifics, T-Mobile’s parent company Deutsche Telekom will have a 42% stake in the deal, while Sprint’s parent company SoftBank will claim 27% ownership.
There are still some details that will need to come out, like what will happen to existing Sprint customers, how the transition will happen, and whether or not the FCC has anything to say about the situation.
Keep your eye out for details.