Sprint, T-Mobile Said to Close In on $26.5 Billion Combination

guest · Dec 9, 2019

Fourteen attorneys general will challenge T-Mobile and Sprint merger in court this week
December 9, 2019
https://techcrunch.com/2019/12/09/f...-mobile-and-sprint-merger-in-court-this-week/

After months of statements, the biggest challenge yet to T-Mobile and Sprint’s proposed merger kicks off today in a Manhattan court. The trial is the result of pushback from a coalition of attorneys general of 13 states and the District of Columbia, who have raised flags over the proposed $26 billion merging of the country’s third- and fourth-largest carriers.

“Today we stand on the side of meaningful competition and affordable options for consumers,” California Attorney General Xavier Becerra said in a statement provided to TechCrunch. “[...] We’re fighting in court with a 14-state strong coalition for then, and for all Americans, and we’re confident the law is on our side.”
The trial is expected to last three weeks, per The Wall Street Journal, kicking off with today’s opening statements. Sprint Chairman Marcelo Claure and soon-to-be-former T-Mobile CEO John Legere will take the stand to make their case against the AGs.
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ronjor · Dec 13, 2019

T-Mobile CEO says if Sprint deal fails, prices may go up

By TALI ARBEL 13 Dec 2019
NEW YORK (AP) — T-Mobile CEO John Legere said if his company’s $26.5 billion deal to buy Sprint fails, it may have to raise prices to slow user growth and relieve stress on the T-Mobile network. He said that would be his “worst nightmare.”
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ronjor · Dec 20, 2019

Testimony ends in T-Mobile-Sprint merger trial in New York

Brendan Pierson December 20, 2019
NEW YORK (Reuters) - Testimony ended on Friday in a lawsuit by a group of states led by New York and California seeking to block the merger of Sprint Corp (S.N) and T-Mobile US Inc (TMUS.O), moving the trial a step closer to having a U.S. judge rule on whether the deal violates federal antitrust laws.
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guest · Jan 8, 2020

Sprint is shutting down Virgin Mobile ahead of planned T-Mobile merger
It's moving customers to Boost Mobile as it consolidates prepaid carriers
January 8, 2020
https://www.engadget.com/2020/01/08/sprint-shutting-down-virgin-mobile/

Sprint is getting ready for its planned T-Mobile merger by axing one of its prepaid brands. The telecom is shutting down Virgin Mobile service and will transfer all customers to Boost Mobile starting the week of February 2nd.
You'll keep your phone and number in "most instances," and will move to a "comparable or better" plan at no additional charge. Your mobile broadband device won't carry over, though, and you'll have to change your payment options if you rely on either PayPal or 45/90-day top-ups.

This move didn't come completely out of the blue.
The Virgin shutdown helps consolidate those networks so that it's easier to hand things off -- if the lawsuit to block the merger doesn't succeed, that is.
However many hints there might have been, the shutdown represents a sad end to a long chapter in Sprint's history.
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guest · Jan 14, 2020

Don’t trust the US gov’t, states tell court in T-Mobile/Sprint merger case
States blast DOJ and FCC as T-Mobile/Sprint merger case nears finish
January 13, 2020
https://arstechnica.com/tech-policy...tes-tell-court-in-t-mobilesprint-merger-case/

The United States government approved the T-Mobile/Sprint merger without fully investigating whether the deal's anti-competitive harms can be offset by merger conditions, state attorneys general argued in a court filing.

Also last week, the plaintiff states submitted their proposed findings of facts, and T-Mobile and Sprint did the same.
Judge Victor Marrero is accepting friend-of-the-court briefs until January 24, and the parties in the case can file responses until February 7, FierceWireless reported.
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ronjor · Jan 15, 2020

Dish is doomed as a wireless carrier, New York AG says

By Clare Duffy, CNN Business January 15, 2020
New York (CNN Business)Sprint and T-Mobile want to merge to form a third national wireless behemoth about the size of Verizon and AT&T. More than a dozen state attorneys general claim that the merger would make wireless service and prices worse for Americans, and they are determined to stop them.
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ronjor · Feb 10, 2020

Sprint stock up more than 60% after report that U.S. District judge is set to rule in favor of its deal with T-Mobile

Kif Leswing@kifleswing Feb 10 2020
Sprint stock was up 60% in extended hours trading Monday after a reports that a U.S. District judge is expected to rule in favor of its ruling with T-Mobile.
The decision is expected to be made public Tuesday.
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hawki · Feb 11, 2020

ronjor said: ↑

Sprint stock up more than 60% after report that U.S. District judge is set to rule in favor of its deal with T-Mobile
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"Judge Approves T-Mobile Merger With Sprint..."

https://www.nytimes.com/2020/02/11/business/media/t-mobile-sprint-merger.html

hawki · Feb 11, 2020

hawki said: ↑

"Judge Approves T-Mobile Merger With Sprint..."

https://www.nytimes.com/2020/02/11/business/media/t-mobile-sprint-merger.html
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Approval is not "final" yet:

"...The deal still requires the endorsement of the California Public Utilities Commission, a move two years in the making, and it’s possible the legal battle isn’t over yet. New York Attorney General Letitia James, who spearheaded the lawsuit, said that the states “wholeheartedly” disagreed with Marrero’s ruling and are considering an appeal..."

https://www.washingtonpost.com/busi...-approval-ushering-new-era-telecom-behemoths/

guest · Feb 16, 2020

New York attorney general says she won't appeal T-Mobile merger ruling
February 16, 2020
https://www.cnet.com/news/new-york-attorney-general-says-she-wont-appeal-t-mobile-merger-ruling/

In a statement Sunday, New York Attorney General Letitia James -- who spearheaded the case against the merger alongside California AG Xavier Becerra -- said she will not be appealing a US District judge's ruling last week to allow the merger to proceed.

"Instead, we hope to work with all the parties to ensure that consumers get the best pricing and service possible, that networks are built out throughout our state, and that good-paying jobs are created here in New York."
"We are committed to continuing to fight for affordability and access for all of New York's mobile customers," she said.

An advisor for Becerra told CNET that they are reviewing their options, including an appeal and the AGs role in the CPUC vote.
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guest · Feb 19, 2020

T-Mobile owner sets sights on becoming U.S. number one
February 19, 2020
https://in.reuters.com/article/deut...ghts-on-becoming-u-s-number-one-idINKBN20D0KW

Deutsche Telekom is aiming to become market leader in the United States, CEO Tim Hoettges said on Wednesday, now that a deal for its T-Mobile US unit to take over Sprint is within reach.

“We have the chance to become No.1 in the United States, to overtake AT&T and Verizon. That is our ambition,” Hoettges told reporters in Bonn after Deutsche Telekom reported record annual results in its 25th year as a listed company.
With last week’s New York court ruling in favour of the deal, Hoettges now expects it to close by April 1, subject to resolving outstanding regulatory and legal issues.
VALUATION GAP
Highlighting the positive market reaction after the New York ruling, Hoettges said the new T-Mobile would have a market value on paper of around $120 billion. That compares with $274 billion for AT&T and $242 billion for Verizon.
“That is a difference of around $120 billion. I see no reason why this cannot be reduced considerably,” he said, highlighting Sprint’s spectrum assets as a key competitive advantage.
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guest · Feb 20, 2020

Sprint and T-Mobile agree to give Deutsche Telekom higher stake in combined company
February 20, 2020
https://www.cnbc.com/2020/02/20/spr...lekom-slightly-higher-stake-after-merger.html

Sprint and T-Mobile have agreed to amend their merger deal agreement to give Deutsche Telekom a higher ownership stake in the new combined company, the companies announced Thursday.

T-Mobile said Thursday it plans to close the merger by April 1. Sprint shares were up more than 4% after hours following the announcement. T-Mobile shares were down 1.5%.
SoftBank agreed to give Deutsche Telekom a slightly higher ownership stake after Sprint’s financials have eroded during the long deal approval process, the people said.

The merger still can’t close until the California Public Utilities Commission approves the transaction.
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Big merger milestone today! Now we can set our sights on closing the transaction, creating the #NewTMobile for America's consumers (as early as April 1 of 2020)!! @ATT and @Verizon - watch out, 'cause here we come! Key info: https://t.co/Bema6CNhOd https://t.co/eP0NaIQn36
— Mike Sievert (@SievertMike) February 20, 2020
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T-Mobile: T-Mobile and Sprint Announce Amendment to Business Combination Agreement

guest · Feb 27, 2020

T-Mobile conducts layoffs as it prepares to complete Sprint merger
Union predicts tens of thousands of job cuts after T-Mobile and Sprint combine
February 27, 2020
https://arstechnica.com/information...ffs-as-it-prepares-to-complete-sprint-merger/

T-Mobile "has laid off a number of employees" in its prepaid business, Light Reading reported yesterday. Light Reading said three sources confirmed layoffs in the Metro by T-Mobile prepaid business, but "the extent of the layoffs is unclear."
Union predicts big post-merger job cuts
It's not clear if the Metro by T-Mobile layoffs are related to the impending merger, but the Communications Workers of America (CWA) union expects more layoffs after the merger is completed. The union said this month that the merger approval "will put 30,000 jobs at risk."

"[W]hile both companies may be able to keep their promise not to trim any of their own staff, many phone stores are staffed independently—which could mean layoffs in the range of 24,000, said Adam Wolf, president of the National Wireless Independent Dealer Association, which represents owners of phone stores," an NBC News report said this month.
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zapjb · Feb 27, 2020

Ah unabashed .......... what a wonderful system for the workforce.

ronjor · Mar 11, 2020

California attorney general says will end fight against Sprint, T-Mobile merger

March 11, 2020
WASHINGTON (Reuters) - California Attorney General Xavier Becerra’s office will not appeal a court’s decision that a merger of wireless carriers Sprint (S.N) and T-Mobile (TMUS.O) can go forward, his office said on Monday.
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ronjor · Mar 31, 2020

T-Mobile and Sprint are finally merging: What you need to know about the $26.5 billion deal

Roger Cheng, Marguerite Reardon March 31, 2020
Here's how the deal came together and what it means for you.
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ronjor · Apr 1, 2020

Legere is out as T-Mobile CEO as Sprint merger officially closes

Published Wed, Apr 1 2020
John Legere is officially done with the role of T-Mobile CEO after the company officially closed its merger with Sprint, the company announced Wednesday.
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guest · Apr 2, 2020

T-Mobile, Sprint took a risk by finishing merger without Calif. approval
California agency says merger must stop—carriers say the state has no authority
April 2, 2020
https://arstechnica.com/tech-policy...k-by-finishing-merger-without-calif-approval/

California state regulators are trying to hold up the T-Mobile/Sprint merger, saying the companies don't yet have approval to combine their operations in the state.

In response to yesterday's T-Mobile/Sprint announcement, the CPUC issued a ruling that says the companies "shall not begin merger of their California operations until after the CPUC issues a final decision on the pending applications."
We contacted T-Mobile today about yesterday's CPUC ruling and will update this article if we get a response.

The state Public Utilities Code prevents companies from merging their California operations without approval, the CPUC order said.
But T-Mobile and Sprint argue that the CPUC does not have jurisdiction over wireless transactions and that the merger can be completed without the agency's approval.
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Regardless of the outcome at CPUC, the merger is happening. But the dispute between the companies and the Golden State could result in litigation and affect whether the state is able to impose conditions on the deal.
Back and forth
T-Mobile told the CPUC in a letter Tuesday that the agency "lacks jurisdiction over this transaction." T-Mobile and Sprint also said they can't wait any longer [...]
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ronjor · Apr 8, 2020

What the T-Mobile and Sprint Merger Means for You

Julian Chokkattu 04.08.2020
If you’re a subscriber, you may have a lot of questions right now. We have answers.
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ronjor · May 14, 2020

Sprint's brand is dying this summer

Corinne Reichert May 14, 2020
Everything Sprint will disappear as it all becomes T-Mobile.
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guest · May 21, 2020

hawki said: ↑

"T-Mobile Offers More to Smooth Approval for Sprint Merger
[...] The new commitments include promises to provide free 5G coverage to first responders [...]
https://www.marketwatch.com/article...ttorney-general-51573147823?mod=mw_latestnews
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[Update: Now live] T-Mobile plans 10 years of free 5G unlimited service for first responders
May 21, 2020
https://9to5mac.com/2020/05/21/new-t-mobile-free-5g-first-responders/

Update 5/21: Spotted by The Verge, T-Mobile CEO Mike Sievert announced that the Connecting Heroes Initiative bringing free service to first responders is now live. Eligible public and non-profit organizations can apply here.

We’ve just launched something only theSupercharged #Uncarrier can, something that gives BILLION$ back to our nation’s First Responder Agencies. Introducing #ConnectingHeroes! Now, first responders can stay connected with service, including #Nationwide5G access! #5GforGood
— Mike Sievert (@MikeSievert) May 21, 2020
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guest · Jun 16, 2020

mood said: ↑

Sprint and T-Mobile agree to give Deutsche Telekom higher stake in combined company
February 20, 2020
https://www.cnbc.com/2020/02/20/spr...lekom-slightly-higher-stake-after-merger.html

T-Mobile: T-Mobile and Sprint Announce Amendment to Business Combination Agreement
Click to expand...

T-Mobile reportedly cuts hundreds of jobs following $26.5B Sprint merger
The layoffs hit Sprint's small-business sales unit, a report says
June 16, 2020
https://www.cnet.com/news/t-mobile-reportedly-cuts-hundreds-of-jobs-following-26-5b-sprint-merger/

Hundreds of Sprint employees have lost their jobs as the new T-Mobile streamlines its operations, according to a report. The layoffs were announced Tuesday by James Kirby, T-Mobile VP, according to TechCrunch, which cited leaked audio of a call made to employees. The layoffs follow T-Mobile's $26.5 billion merger with Sprint, which went through on April 1.

T-Mobile confirmed the job cuts in a blog post Tuesday, but didn't say how many roles are going. The merged carrier will be adding 5,000 new positions over the next year across retail, care, business, engineering and network organizations.

"As part of this process, some employees who hold similar positions are being asked to consider a career change inside the company," T-Mobile said.
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T-Mobile: T-Mobile Update on Workforce Evolution

As we have shared previously, following our recent merger to create the new T-Mobile, we are working to rapidly evolve and transform our workforce into an even more effective and efficient team that is best positioned to serve customers where and how they want us to.
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guest · Jun 24, 2020

T-Mobile asks for a break on its previous 5G and job commitments
June 23, 2020
https://www.cnet.com/news/t-mobile-asks-for-a-break-on-its-previous-5g-and-job-commitments/

T-Mobile has asked the California Public Utilities Commission for a break on some of its 5G and job creation conditions imposed when the carrier's $26.5 billion merger with Sprint was approved. It's requesting a 5G network completion date of two years later, from 2024 to 2026, and to eliminate the requirement to add 1,000 new employees.

According to T-Mobile's filing, the date for the completion of its 5G network across the state and in rural areas was "mistakenly noted" as being 2024 in the decision. It was intended to be for six years after the merger closed.
For the job creation changes, T-Mobile has partially blamed the spread of the coronavirus.

"The imposition of a specific hiring mandate is inconsistent with regulatory authority, not supported by the record, and burdensome, especially in light of the economic disruption created by the COVID-19 crisis," T-Mobile said in its filing.
Click to expand...

The carrier is lastly pushing back on the standard used to confirm it's meeting minimum network speeds.

"Our goal is to ensure the CPUC's final decision aligns with what was presented in our proceeding and clearly articulates the benefits this merger will deliver to Californians," T-Mobile said in an emailed statement.
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zapjb · Jun 24, 2020

Shocked. Not.

ronjor · Jul 1, 2020

Dish now owns Boost Mobile, following sale from T-Mobile

By Jacob Kastrenakes@jake_k Jul 1, 2020
There’s a new logo, too
Click to expand...

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