T-Mobile and Sprint are close to reaching an agreement to merge, according to Reuters, potentially incorporating two giants in the not-so-crowded industry.
If the amalgamation ultimately occurs, it would combine the third and fourth largest U.S. wireless carriers. It would also be the first highly consequential merger since President Donald Trump took office in January, potentially forcing him to address the issue of antitrust law.
Other possible indications of the prospective deal include T-Mobile and Sprint seeing the political and legal climate as friendly, or more hands-off. (RELATED: America’s Favorite Cell Phone Perk Is Coming Back, FCC Head Says, Because Of Obama Regs Roll-Back)
Details of the deal, which has yet to be finalized, are sparse. But SoftBank Group, a Japanese conglomerate, which controls Sprint, will own roughly 40 to 50 percent of the company along with other shareholders, according to Reuters. T-Mobile’s shareholders, including its German telecomm company majority owner Deutsche Telekom, will have the majority stake.
SoftBank has been engaging in tentative negotiations with Uber, the ride-sharing giant, to nail down a multibillion-dollar investment. It also somewhat recently established a $93 billion fund, the largest corporate venture capital fund ever, according to Recode, showing its current appetite for business maneuvers and partners.
Send tips to email@example.com.
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact firstname.lastname@example.org.