T-Mobile Completes $31 Billion Sprint Takeover

By Kurt Stolz on 1 April 2020
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T-Mobile US announced the completion of its merger with Sprint. The move followed a two-year battle with regulators at the state and federal level.

The combined entity will use the T-Mobile name and marks an end to both the Sprint brand and T-Mobile CEO John Legere’s tenure with the company.  Legere had originally planned to leave the company on May 1.  His deputy, Mike Sievert, was appointed CEO, with immediate effect.

While many T-Mobile executives will remain in place, some Sprint managers including Dow Draper and John Saw will also be part of the merged entity.

The deal, worth over $31 billion based on T-Mobile’s closing stock price Tuesday, makes T-Mobile a formidable rival to the number one and two mobile operators in the United States, AT&T Wireless and Verizon Wireless.

The company will maintain dual headquarters in Bellevue, Washington, and Sprint’s former headquarters in Overland Park, Kansas.

(Photo: Accura Media Group)

Accura News

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