Mobile, Sprint reportedly reach 'major breakthrough' in merger talks
01:00, Sep 23, 2017
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According to Reuters, citing people familiar with the matter, Japan's SoftBank - parent company of Sprint - will own between 40 and 50 per cent of the combined company, while T-Mobile's majority owner Deutsche Telekom will own a majority stake.
Shares of Sprint rose more than 3% in pre-market trading this morning on the news; T-Mobile's stock was up more than 1% before the market opened.
Those same concerns scuttled a 2014 attempt by Sprint and SoftBank to acquire T-Mobile.
The merger is in the initial stages of being confirmed, whilst both companies still look to agree on terms.
If the two companies succeed in merging, they would have around 130 million subscribers and would jump to being in the same ballpark as Verizon and AT&T instead of lagging far behind as the two companies do now.
T-Mobile and Sprint are closing in on an agreement to merge the two wireless providers, an individual with knowledge of the situation confirmed to TheWrap. Revenues would top $70 billion and, say analysts, there would be massive scope to cut costs.
The third and fourth biggest wireless carriers in the USA would combine for about 130 million users - putting them on par with Verizon and AT&T.
T-Mobile has a market capitalization of $52 billion, while Sprint has a market capitalization of $32 billion. The Obama administration was more reserved regarding big business mergers, but with the Trump administration's business background and pro-job message, it could be more lenient regarding the merger. The end result was a brasher and more competitive T-Mobile, who lead the way on a wave of improvements in the sector culminating most recently in the return of simpler, easier unlimited data plans.
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