Washington – On April 29, T-Mobile and Sprint entered into an all-stock merger agreement valued at $26 billion, with the new entity forming under the T-Mobile name.
This agreement will speed progress to Fifth Generation wireless technology development and deployment that will give Americans more choices in the way that they access broadband. The agreement should be expeditiously approved.
Americans for Tax Reform President Grover Norquist voiced his support for the proposed merger, stating:
“The combination of T-Mobile and Sprint, creates more viable competition in the marketplace for Americans to access affordable, fast, and ubiquitous broadband service. This merger is in the interest of Americans who want faster internet access and propels us forward on the path to 5G wireless technology in an international innovation race.”
In terms of US market share, T-Mobile and Sprint are ranked 3rd and 4th respectively. Even with their combination the new entity will still be in third place with 126 million subscribers. This is behind Verizon’s 150 million subscribers and AT&T’s subscribership of 142 million.
Their combination will contribute to the health of not just the wireless marketplace, but also the broadband market as a whole. This merger means more – not less – jobs as building a nationwide 5G network includes investments in rural America. The combined company will have more resources to deploy technology and open stores, which will spur job opportunities throughout the country.