Two of the top phone companies have agreed to merge together as one to form a powerhouse company.
According to CNN Money, on Sunday it was announced that T-Mobile and Sprint are finally merging together after negotiating for many years.
Sprint was last valued at $26 billion on its last closing price, and T-Mobile was last valued at $55 billion. This new deal gives the now combined company a “total implied enterprise value” of $146 billion.
Now with the two companies merged together, executives are promising to hire thousands of people to give their customers a new G5 network.
John Legere, the CEO of T-Mobile said, “I’m excited to announce that T-Mobile & Sprint have reached an agreement to come together to form a new company — a larger, stronger competitor that will be a force for positive change for all US consumers and businesses!”
Prior to finalizing the deal, news about the deal drove up the stock in both T-Mobile in Sprint.
Both companies first talked about merging as one back in 2014, but of course, it did not go through.
Roommates, how do you think T-Mobile and Sprint users will respond to their carriers new deal?