T-Mobile Closes Sprint Merger; Mike Sievert Takes Over As CEO

Edward Kim  |

Image: New CEO Mike Sievert. Source: T-Mobile US

T-Mobile US announced on Wednesday that it has officially completed the merger with Sprint. The combined company will operate under the T-Mobile name and be led by CEO Mike Sievert, who will succeed John Legere. The new T-Mobile is a much more substantial competitor to Verizon and AT&T.

Legere, who had announced in 2019 that he would be stepping down upon completion of the deal, led a remarkable turnaround of T-Mobile in his eight years at the helm. Sievert was formerly COO of T-Mobile and was tapped in November 2019 to succeed Legere, who will remain on T-Mobile’s board through June 2020.

U.S. District Court Judge Victor Marrero approved the deal in February, rejecting a claim by a group of states that said the proposed transaction would violate antitrust laws and raise prices.

_____

Edward Kim is Managing Editor of Equities News.

_____

Subscribe to get our Daily Fix delivered to your inbox 5 days a week

Source: Reuters

Stock price data is provided by IEX Cloud on a 15-minute delayed basis. Chart price data is provided by TradingView on a 15-minute delayed basis.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not necessarily represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.

Trending Articles

Twitter Down 13% in Premarket Trading Friday as Musk Puts Deal on Hold
The Best Laid Plans of Mice and Men — Part I
Bumble Beats First Quarter Estimates, Has Over 3 Million Paying Users
Squarespace Beats Revenue Estimates With Record Q1
BridgeBio Pharma Inks Licensing Deal With Bristol Myers Squibb Worth up to $905 Million
How To Trade in a Bearish Market
AbbVie and Teva Weighing $5 Billion Opioid Lawsuit Settlement
Cigna Beats Q1 Revenue and Earnings Estimates, Raises Full Year Guidance

Market Movers

Sponsored Financial Content