T-Mobile US and Sprint Corp said on Sunday they had agreed to a $26 billion (roughly Rs. 1.72 lakh crores) all-stock deal and believed they could win over sceptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network.
The agreement capped four years of on-and-off talks between the third and fourth largest US wireless carriers, setting the stage for the creation of a company with 127 million customers that will be a more formidable competitor to the top two wireless players, Verizon Communications and AT&T.
US regulators, who have challenged in court AT&T's $85 billion (roughly Rs. 5.63 lakh crores) deal to buy US media company Time Warner, are expected to grill Sprint and T-Mobile on how they will price their combined wireless offerings.
Verizon has 116 million US wireless customers, according to a spokesman, while AT&T has 93 million branded customers, as of the first quarter.
Their first round of merger talks ended unsuccessfully in 2014 after the administration of then-US President Barack Obama expressed antitrust concerns.
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