T-Mobile acquires Sprint for US$26.5 billion

According to CNBC, the US Department of Justice passed the T-Mobile acquisition of Sprint, and the transaction price was set at $26.5 billion.

The conclusion of this transaction also means that the number of large operators in the United States has dropped from four to three, leaving only Verizon, AT&T and T-Mobile.

For antitrust reasons, the US Department of Justice requires T-Mobile and Sprint to divest some of its assets, including Sprint’s Boost Mobile, Virgin Mobile, and other prepaid phone services, as well as some of Sprint’s wireless spectrum, for $5 billion to sell to satellite TV. Giant Dish Network.

At the same time, T-Mobile will need to provide Dish Network with at least 20,000 base stations and hundreds of retail stores and allow the latter to use the T-Mobile network within 7 years.

Makan Delrahim, head of the antitrust department of the US Department of Justice, said: “Without these remedies, the merger will seriously damage competition. Let citizens get fast, reliable and affordable wireless connections. For our economy, every consumer and their way of life.”

Del Rahim believes that the supplemental agreement will ensure that the Dish Network becomes “a disruptive force in the wireless arena.” T-Mobile and Sprint said that it is expected that the regulator will formally approve the acquisition in the third quarter and plans to complete the transaction in the second half of this year.

For The Latest Activities And News Follow Our Social Media Handles:


To Top