T-Mobile, Sprint near agreement on deal terms to take on Verizon
New York on Sunday dropped its fight against the merger of the U.S. wireless carriers.
(Reuters) - T- Mobile US (TMUS.O) and Sprint Corp (S.N) are nearing an agreement on new merger terms and the final deal could be announced as soon as Thursday, the Wall Street Journal reported citing people familiar with the matter.
Deutsche Telekom AG (DTEGn.DE), T-Mobile's parent, will own 43% of the combined company, up from just below 42% earlier, the report added.
T-MOBILE-SPRINT MERGER APPROVED BY FEDERAL JUDGE, WHO REJECTS STATE ANTITRUST CONCERNS
T- Mobile US did not immediately respond to a Reuters request for comment, while Sprint declined to comment.
Last week, a federal judge approved the merger deal, rejecting a claim by a group of states that said the proposed transaction would violate antitrust laws and raise prices.
New York on Sunday dropped its fight against the merger of the U.S. wireless carriers, saying the state would not appeal the judge’s approval of the deal.
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Deutsche Telekom CEO Tim Hoettges said on Wednesday the new T-Mobile would have a market value of around $120 billion. That compares with $274 billion for AT&T (T.N) and $242 billion for Verizon (VZ.N).
Shares of T-Mobile rose 0.5% to $99.95, while Sprint was up 3.9% at $9.85 in after market trade.