T-Mobile and Sprint Merger: To create enterprise value of $146 billion

T-Mobile and Sprint Corporation has announced that they have entered into a definitive agreement to merge in an all-stock deal, which would create enterprise value of approximately $59 billion for Sprint and approximately $146 billion for the combined company.

The combined company will be named T-Mobile and will be headquartered in Bellevue, Wash., with a second headquarters in Overland Park, Kan.

Meanwhile, John Legere, current President and Chief Executive Officer of T-Mobile US and the creator of T-Mobile's successful Un-carrier strategy, will serve as Chief Executive Officer, and Mike Sievert, current Chief Operating Officer of T-Mobile, will serve as President and Chief Operating Officer of the combined company.

John Legere, CEO, T-Mobile said, "This combination will create a fierce competitor with the network scale to deliver more for consumers and businesses in the form of lower prices, more innovation, and a second-to-none network experience - and do it all so much faster than either company could on its own. As industry lines blur and we enter the 5G era, consumers and businesses need a company with the disruptive culture and capabilities to force positive change on their behalf."

It said that "The New T-Mobile will employ more people than both companies separately and create thousands of new American jobs." Adding that the new company will be able to light up a broad and deep 5G network faster than either company could separately. T-Mobile deployed nationwide LTE twice as fast as Verizon and three times faster than AT&T, and the combined company is positioned to do the same in 5G with deep spectrum assets and network capacity.

" Both Sprint and T-Mobile have similar DNA and have eliminated confusing rate plans, converging into one rate plan: Unlimited," said Marcelo Claure.

Claure said that "We intend to bring this same competitive disruption as we look to build the world's best 5G network that will make the US a hotbed for innovation and will redefine the way consumers live and work across the US, including in rural America."

Belkin Boost Up Wireless Charging Pad Quick Look

" As we do this, we will force our competitors to follow suit, as they always do, which will benefit the entire country. I am confident this combination will spur job creation and ensure opportunities for Sprint employees as part of a larger, stronger combined organization, and I am thrilled that Kansas City will be a second headquarters for the merged company," he added.