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T-Mobile and Sprint To Announce Their Merger In October



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T-Mobile and Sprint To Announce Their Merger In October
 

 
(Reuters) - T-Mobile US Inc (TMUS.O) is close to agreeing tentative terms on a deal to merge with Sprint Corp (S.N), people familiar with the matter said on Friday, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers.

The tr@nsaction would significantly consolidate the U.S. telecommunications market and represent the first tr@nsformative U.S. merger with significant antitrust risk to be agreed since the inauguration of U.S. President Donald Trump in January, testing his administration’s appetite for such deals.

The development follows more than four months of on-and-off talks this year between the companies, and comes as the telecommunications sector seeks ways to tackle investments in 5G technology that will greatly enhance wireless data tr@nsfer speeds.

Japan’s SoftBank Group Corp (9984.T), which controls Sprint, will own 40 to 50 percent of the combined company, while T-Mobile majority owner Deutsche Telekom (DTEGn.DE) will own a majority stake, two of the sources said.

Once terms are finalized, due diligence by the two companies will follow and a deal is expected by the end of October, though talks may still fall through, the sources said.

A merger would create a business with more than 130 million subscribers, just behind Verizon Communications Inc (VZ.N) and AT&T Inc (T.N). Revenues would top $70 billion and analysts say there would be massive scope to cut costs.

Sprint shares jumped 5 percent in morning trading in New York on Friday to $8.44, giving the company a market capitalization of close to $34 billion. T-Mobile shares were up 1 percent to $64.28, giving that company a market capitalization of around $53 billion.

The sources asked not to be identified because the negotiations are confidential. Sprint and Deutsche Telekom declined to comment. T-Mobile and SoftBank did not immediately respond to requests for comment.

SoftBank founder Masayoshi Son abandoned an earlier attempt to acquire T-Mobile for Sprint in 2014 amid opposition from anti-trust regulators concerned that consumers could lose out.

 https://www.theverge.com/ .. r-deal-nearing



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