T-Mobile and Sprint announce plans to merge
BELLEVUE, Wash. (FOX NEWS) — T-Mobile US Inc. and Sprint Corp. agreed on Sunday afternoon to merge in an all-stock transaction, following previous failed attempts to combine the two companies.
The new company will be named T-Mobile, with current CEO John Legere remaining in charge, and will be headquartered in Bellevue, Washington, while a second headquarters will be located in Overland Park, Kansas – the current headquarters of Sprint.
“This combination will create a fierce competitor with the network scale to deliver more for consumers and businesses in the form of lower prices, more innovation, and a second-to-none network experience – and do it all so much faster than either company could on its own,” Legere said in a statement.
“As industry lines blur and we enter the 5G era, consumers and businesses need a company with the disruptive culture and capabilities to force positive change on their behalf.”