According to multiple sources including CNBC and Bloomberg, both T-Mobile and Sprint are reportedly very close to reaching an agreement on the merger that has been talked about for so long. Should this deal conclude with T-Mobile getting taken in under Sprint’s wing it would bring the major U.S. carrier number to three, being comprised of Sprint, AT&T, and Verizon Wireless. Reports are saying that the deal is not yet finalized but an agreement is close to being made that would see Sprint buyout T-mobile for $40 per share, and leave current majority owner Deutsche Telekom with only 15% remaining stake in the company, giving 50% stock and cash to Sprint and Softbank CEO Masayoshi Son as the new majority owner of the nations fourth largest wireless carrier.
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The deal still has to be approved by the FCC before it can be finalized and before T-Mobile, Sprint, and Deutsche Telekom can move forward, but with all three companies in agreement that is one step out of the way they won’t have to worry about. If the proposed merger actually goes through, other rumors had been previously stated that the combined SprinT-Mobile would be headed up by current T-Mobile CEO John Legere, which if true would probably be the best thing that could ever happen to Sprint and it’s wealth of employees and customers, especially when you take into account T-mobile having the largest growth rate in the first quarter of this year and all the improvements they’ve made to their own strategy over the last year or two with the Uncarrier initiatives.
At this point in time it’s unclear what would happen to current customers of both carriers and how services would end up, we imagine those types of details won’t surface until the deal is final and it gets an approval from the Federal Communications Commission. Masayoshi Son apparently has big plans for an aggressive strategy to compete with the two largest carriers in the nation currently, and a merger with the two bottom services could finally give AT&T and Verizon some heavier competition. The story is currently developing and we will provide further details as they come up.