Thursday, 18 July, 2019


Mobile promises the Sprint merger won't drive up prices… for now

An image of John Legere and other T Mobile employees at the Senate Judiciary Subcommittee meeting Fortune
Melba Vasquez | 08 February, 2019, 21:24

The company, the third-largest US wireless carrier by subscriber count, is awaiting approval of its deal to buy smaller rival Sprint Corp as it strives for more scale to compete with bigger rivals Verizon Communications Inc and AT&T Inc.

"We are thrilled that T-Mobile has committed to bringing 1,000 jobs to Monroe County pending the company's proposed merger with Sprint".

Most importantly, the merger with Sprint will enable T-Mobile to "break down this traditional trade-off that consumers have always been forced to make, which is: 'Do you want a good deal or do you want the best network?'" he said. My management team and I can make this personal commitment because we believe in delivering on our promises, and we know if we do not, we will lose credibility and the trust of our customers.

T-Mobile continues to beat its rivals at attracting new customers as it bides its time awaiting the closure of its merger with Sprint.

Sprint and T-Mobile argue a merger is necessary in order to compete against larger rivals Verizon and AT&T, and say the planned investments in fifth-generation wireless technology - which promises broadband speeds without a hardwire connection - will eventually lower costs for consumers.

The pledge comes a week before two committees in the House of Representatives - Energy and Commerce and Judiciary - hold a joint hearing to discuss the transaction. The FCC and the Department of Justice are among the agencies that must approve the deal.

In its more detailed proposal, T-Mobile (tmus) said it might raise prices under some circumstances it termed "not within the control" of the merged company.

Shares of T-Mobile were down 3.69 percent as of 4:04 p.m. ET on Tuesday, while shares of Sprint were down 6.09 percent.

A broad claim like that sounds good on paper, but Legere went a step further near the end of his letter, promising the FCC that, for the next three years, New T-Mobile's rates will be "the same or better" as what either T-Mobile or Sprint now offer. A T-Mobile and Sprint store sit side-by-side in a strip mall on April 30, 2018 in El Cerrito, California.

For the past four years, T-Mobile and Sprint have been trying to merge together.

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