T-Mobile and Sprint said on Sunday they have agreed to combine into a company that would reducing major US wireless providers to three. The Communications Workers of America, a union for telecommunication workers, has said the merger will cost at least 20,000 US jobs and reduce competition in wireless, bringing higher prices. The proposed all-stock deal values Sprint at about $59bn and the combined company at $146bn. Sprint dropped a bid for T-Mobile more than three years ago after running into concerns about competition under the Obama administration. “T-Mobile does not need a merger with Sprint to succeed but Sprint might need one to survive,” Piecyk wrote in a research note.

Source: The Guardian April 29, 2018 17:15 UTC