The merger between T-Mobile (NASDAQ:TMUS) and Sprint is finally complete.
This T-Mobile-Sprint merger has the former acting as the parent company over the latter. The resulted combination includes several benefits for the two companies. Among these is the ability to cut costs through synergies and expand networks to compete with rivals.
According to a news release, the T-Mobile-Sprint merger opens the way for several new enhancements. That includes plans for $40 billion in investments into its network and business over the next three years. It also mentions an estimated $43 billion in value for shareholders.
John Legere, CEO of T-Mobile leading up to the merger with Sprint, said this in the news release.
“You know T-Mobile has been all about challenging the status quo … and Sprint has a track record of being a tenacious challenger and a dedicated customer advocate as well. So, with innovation, disruption and obsession for the customer experience as the foundation that the New T-Mobile is built on, just imagine what’s to come.”
It’s also worth pointing out that John Legere is no longer the CEO of T-Mobile. Instead, he’s stepping down and letting Mike Sievert take over as the next CEO of the company. While this change is taking place sooner than expected, it doesn’t mean that Legere is completely done with T-Mobile yet. He’ll still be sticking around as a member of the Board of Directors.
TMUS stock was up 1.47% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.