T-Mobile and Sprint sign $26.5 billion merger deal to accelerate 5G rollout

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T-Mobile and Sprint have finally agreed to a $26.5 billion deal that will make T-Mobile the third-largest carrier in the United States, the companies announced Sunday. 

T-Mobile CEO John Legere will be CEO of the new company, which will continue under the T-Mobile name.

The agreement comes after two previous failed attempts to merge the two carriers. The most recent was in November of last year, when talks between the two companies fell apart amid reported disagreements over Sprint’s valuation and SoftBank’s reluctance to cede control of Sprint. 

So what changed in the last five months? Well, T-Mobile parent company Deutsche Telekom and Sprint parent SoftBank reached an agreement that valued Sprint at $26.5 billion for one. Sprint Chairman and Softbank CEO Masayoshi Son will also serve on the board of the new T-Mobile, Bloomberg reported.  Read more…

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