Sunday, April 29, 2018

Sprint, T-Mobile Agree to $26 Billion Merger

Sprint, T-Mobile Agree to $26 Billion Merger

T-Mobile parent would control combined firm, which will test antitrust regulators as 5G race heats up

4/29/2018=33,51,71,26...26 billion on a day with 26 numerology..119th day 246 left
sprint=33 on a day with 33 numerology..merger=33
t-mobile value of 55 billion

The boards of Sprint Corp. 8.33% and T-Mobile US Inc. TMUS 0.66% struck an all-stock $26 billion merger that, if allowed by antitrust enforcers, would leave the U.S. wireless market dominated by three national players.
It is the third time in recent years that the two rivals have attempted the combination.
New technology, stiff competition from wireless rivals and an aging cellphone sector keep driving Sprint and T-Mobile into each other’s arms. Both companies hope to squeeze billions in savings by uniting operations despite their owners’ different management styles and a tough regulatory environment.
The all-stock deal would combine Sprint, which has a market value of $26 billion, with T-Mobile, which has a market value of $55 billion, based on Friday’s closing prices. The two companies also have about $60 billion of combined net debt.
Under the terms of the deal, T-Mobile will exchange 9.75 Sprint shares for each T-Mobile share. T-Mobile parent Deutsche Telekom will own 42% of the combined company and Sprint parent SoftBank Group will own 27%. The remaining 31% will be held by the public.
Deutsche Telekom would also control voting rights over 69% of the new company and appoint nine of its 14 directors. The companies said they hope to close the deal in the first half of 2019.

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