T-Mobile US Inc and Sprint announced a $26 billion all-stock deal | business-news | videos | Hindustan Times
  • Monday, Jun 25, 2018
  •   °C  
Today in New Delhi, India
Jun 25, 2018-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

T-Mobile US Inc and Sprint announced a $26 billion all-stock deal

Apr 30, 2018 04:42 IST
about the video
The race for 5G technology is only getting hotter. Wireless carriers T-Mobile US Inc and Sprint announced a $26 billion all-stock deal. Their aim is to come at par with the top competitors Verizon Wireless and AT&T. The marketplace is still dominated by those two. And they stand well ahead of Sprint and T-Mobile in preparing for 5G technology. The technology is expected to have speeds necessary to power drones and self-driving cars. The $26 billion all-stock deal gives T-Mobile majority owner Deutsche Telekom 42 percent of the company and control of the board. The new firm will retain the T-Mobile name and be run by its current CEO John Legere. Japan’s SoftBank Group, which controls Sprint, would own 27 percent of the merged firm and have four board seats. (Muhammed Asad)