T-Mobile Acquires Sprint For $26.5 billion
The United States-based wireless network operator, T-Mobile announced that $26.5 billion mergers could help or reshape US telecom industry as well as test consumers for the further consolidation. The network operator to acquire American telecommunication company Sprint corporation that would reduce the U.S. wireless industry to three major players.
The latest deal attempt by T-Mobile operated by Germany's Deutsche Telekom, and Sprint, run by the Japanese conglomerate SoftBank, to combine forces as they seek to amass subscribers at a time when the industry is racing to deploy called 5G. But it has been uncleared that whether the deal will get approval from the Trump administration's antitrust regulators.
The T-Mobile boss, John Legere said, "We are going to have an impact on America." John will serve as a chief executive officer of the combined entity. Further, John added, "We are going to drag the rest of the players kicking and screaming to the prize, which is American leadership."
The company plan to hire more employees especially in rural areas. Together, they said that the acquisition would allow them to better compete with broadband as well as video industries converge.
According to the information of the source, the acquisition to close by the first half of 2019, as well as the deal, would result in $6 billion cost-saving annually. Meanwhile, both are poised to cite recent efforts by the cable industry to launch nascent wireless products.
John Legere said, "This isn't a case of going from four to three wireless companies — there are now at least seven or eight big competitors in this converging market." Further, he said, "In 5G, we'll go from zero to one and only the New T-Mobile will have the capacity to deliver real, nationwide 5G."
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