The Merger of T-Mobile US and Sprint Is Finalized

The Merger of T-Mobile US and Sprint Is Finalized
Dražen Tomić - Tomich Productions

The new T-Mobile US launched on April 1, 2020. The two companies, T-Mobile US and Sprint, merged to create the all-new, larger T-Mobile. The business combination will create a larger company with a market capitalization of around 110 billion U.S. dollars based on the share prices on March 31.

The new company will continue to be included in Deutsche Telekom's consolidated financial statements as a fully consolidated subsidiary. For almost two years, the transaction has been working its way through various approval processes involving numerous national and regional courts and authorities in the U.S.

“This is a historical day amidst challenging times for Deutsche Telekom,“ said CEO of Deutsche Telekom, Tim Höttges. “The merger puts us in a strong position on this important key market. It’s great that we, as a European company, were able to do this. Deutsche Telekom is strong on both sides of the Atlantic. We’re demonstrating that now. We will continue to invest heavily in all of our markets so we can keep growing.“

Höttges added that many people have worked towards this merger over the past seven years. “I would like to thank you all. The new T-Mobile US can work faster to build the United States’ best 5G network. It has more resources to pursue the Un-carrier direction for customers. It can continue the growth course of the past seven years and create jobs. In doing so, the new T-Mobile US can harness potential for value creation for all shareholders. The future starts now,“ CEO emphasized.