The telecom world and cellular consumers finally got closure yesterday as the merger of T-Mobile and Sprint became official. The newly formed company, New T-Mobile, said the deal will drive an investment of $40 billion into its network over the next three years and unleash at least $43 billion in value for shareholders. The company said there were no immediate plans for the Sprint brand while Sprint’s investor relations web page directed all inquiries to T-Mobile’s page. It was also announced that Mike Sievert will replace John Legere as CEO, effective immediately.
“It’s a relief to end the uncertainty and move on with business.
Everyone is excited to seize this opportunity to build up our nation’s
wireless networks,” said WIA President and CEO Jonathan Adelstein. “It’s
more important now than ever to ensure that our nation’s
next-generation wireless networks are deployed quickly to serve
communities, providing means for telehealth and distance learning, and
restoring economic growth and jobs for America.” Continue Reading