Deutsche Telekom subsidiary T-Mobile US agreed on Sunday to buy out Sprint Corp for $26 billion (€21.4 billion).
If approved, the deal will combine the third and fourth largest US wireless carriers, bringing competition down to three major cellphone companies.
Some of the specifics of the deal include:
Read more; German owned T-Mobile to acquire Sprint Corp in $26 billion deal | News | DW | 29.04
If approved, the deal will combine the third and fourth largest US wireless carriers, bringing competition down to three major cellphone companies.
Some of the specifics of the deal include:
- The two companies expect to complete their deal by the first half of 2019.
- Deutsche Telekom, which controls T-Mobile, will own 42 percent of the combined company, and will control the board, nominating nine of the 14 directors.
- The proposed all-stock deal values Sprint, owned by Japan's SoftBank Group Corp, at about $59 billion and the combined company at $146 billion, including debt.
- The transaction is at a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share, or the equivalent of 9.75 Sprint shares for each T-Mobile US share.
Read more; German owned T-Mobile to acquire Sprint Corp in $26 billion deal | News | DW | 29.04
