CREDIT: AP/REX/Shutterstock Shares of and fell Monday in the wake of announcing their planned mega-merger — which faces potential regulatory roadblocks. ’s stock was down as much as 14% and slipped more than 2% ahead of the stock market’s open Monday. [UPDATE: Sprint declined 13.7% for the day, while T-Mobile shares closed down 6.2%. AT&T finished down 1.1% and Verizon fell 4.3% Monday. The declines came amid smaller declines in broader market indexes.], respectively the U.S.’s No. 3 and 4 carriers, for about $26.5 billion in stock under terms of the pact announced Sunday.
Nov 6, 2017 - Shares of Sprint Corp (NYSE: S) were trading lower by more than 10 percent early Monday, while T-Mobile US Inc (NASDAQ: TMUS)'s stock. Stock - S news, historical stock charts, analyst ratings, financials, and today’s Sprint Corp. DOW JONES, A NEWS CORP COMPANY News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services.
The proposed deal would create a much stronger third competitor to the nation’s two biggest wireless operators, AT&T and Verizon. T-Mobile’s parent company, Deutsche Telekom, would own 42% of the merged entity; Japan’s SoftBank, majority owner of Sprint, would hold 27% and investors would own the remaining 31%. John Legere, T-Mobile’s long-locked, famously trash-talking CEO, would become chief executive of the merged company. The main rationale for the tie-up: to build a high-capacity 5G network across the U.S. With speeds up to 100 times faster than the current 4G standard. Related “Only the New T-Mobile will have the network and spectrum capacity to quickly create a broad and deep 5G network in the first few years of the 5G innovation cycle,” Legere said in Sunday’s video announcement. “We can’t do this separately.” The companies claimed they would invest $40 billion over the next three years in 5G deployment.