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Sprint Corporation and T-Mobile US merged in 2020 in an all shares deal for $26 billion. The deal was announced on April 29, 2018. [1][2][3] After a two-year-long approval process the merger was closed on April 1, 2020, [4][5][6] with T-Mobile emerging as the surviving brand. The Sprint brand was discontinued by T-Mobile on August 2, 2020.
The merger was transacted as a purchase of Nextel Communications by Sprint Corporation for tax reasons; Sprint purchased 50.1 percent of Nextel. At the time of the merger announcement, Sprint and Nextel were the third and fifth leading providers in the U.S. mobile phone industry, respectively. [53] Former Sprint local telephone outdoor junction ...
Nextel. Nextel Communications, Inc. was an American wireless service operator that merged with and ceased to exist as a subsidiary of Sprint Corporation, which would later be bought by T-Mobile US and folded into that company. Nextel in Brazil, and formerly in Argentina, Chile, Peru, the Philippines, and Mexico, [3] is part of NII Holdings, a ...
High-octane T-Mobile CEO Mike Sievert is back with more big promises to investors four years after his company's last capital markets day with Wall Street.The company is targeting a compound ...
On October 5, 1999, Sprint and MCI WorldCom announced a $129 billion merger agreement between the two companies. The deal would have been the largest corporate merger in history at the time. However, the deal did not go through because of pressure from the United States Department of Justice and the European Union on concerns of it creating a ...
September 2012 – April 2020. Board member of. T-Mobile US. Children. 2. John Legere (born June 4, 1958) is an American businessman, former chief executive officer (CEO) and president of T-Mobile US. He previously worked for AT&T, Dell, and Global Crossing. He resigned as CEO following the approval of the merger of T-Mobile and Sprint.
The merger finally closed on April 1, 2020, [42] and then the Sprint brand was officially discontinued on August 2, 2020. [43] Leadership, background and stock changes happened immediately, with customer-side changes happening over time.
On April 1, 2020, Sprint completed its merger of Sprint Corporation and T-Mobile US,, which was majority-owned by Deutsche Telekom, leaving T-Mobile the parent company. The merger also led to Softbank holding 24% of the new T-Mobile's shares, while 43% of shares are held by Deutsche Telekom. The remaining 33% will be held by others.
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