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T-Mobile buys Sprint for US $31 billion

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T-Mobile buys Sprint for US $31 billion
April 01
13:00 2020

One of the largest US telecom operators T-Mobile US Inc has broken through a bureaucratic wall and closed a transaction of buying Sprint Corp. Few believed that the merger would take place, since coordination with regulators had lasted about two years.

The transaction volume will exceed $31 billion. It should be noted that for a fairly long period of time, the Sprint telecom operator has been falling behind competitors, losing customers. After the merger, Sprint will be made public.

Yesterday, T-Mobile US officially announced that T-Mobile CEO John Legere, would vacate his post. The name of the successor is also known – it will be Legere’s deputy, Mike Sievert.

Almost the entire top management of T-Mobile US will continue to run the combined company; some of Sprint’s directors will maintain their positions.

About 43% of the company will be owned by Deutsche Telekom AG, another 24% will belong to SoftBank Group. Public shareholders will manage the remaining 33% of the company’s securities.

In total, the history of the merger of the two giants lasted ten years. The point in the case was the decision of the American court to approve the deal. Thus, the claim, which alleged that the merger would lead to a violation of antitrust laws, remained unsatisfied.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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