T-Mobile And Sprint Expected To Merge
T-Mobile and Sprint had negotiated a merger deal that would result in a stock deal worth $26 billion. Originally, anti-trust regulators had raised some red flags in regards to the deal. As a result, both companies had made some concession with hopes of moving forward.
However, a cohort of state attorneys general had mobilized to sue the two companies and hopefully block the merger. This anti-merger effort was led by the attorneys general of New York and California.
Both companies have the right to renegotiate the terms of the merger deal after it has been approved by the judge. However, T-Mobile has already expressed that they are satisfied with the current terms of the deal.
After the merger, T-Mobile will have over 90 million customers throughout the U.S. They hope to further expand their customer base by poaching customers from AT&T as well as Verizon.
Sprint’s shares have jumped in value after the announcement of the expected merger approval. More specifically, shares increased in value by 50%.