T-Mobile, Sprint Merger Gets U.S. Approval

The U.S. Justice Department has finally ruled that T-Mobile’s $26.5 billion takeover of Sprint will go forward with an agreement that T-Mobile parent Deutsche Telekom will sell off several Sprint assets to Dish Network, creating a new nationwide wireless carrier.

Under the agreement, Dish will acquire Sprint’s 800MHz wireless spectrum, Sprint’s prepaid brands — Boost, Virgin Mobile and Sprint prepaid — and their combined 9.3 million customers, as well as network agreements allowing Dish to use T-Mobile’s network for seven years while it builds out its own 5G network. 

In a joint press release, T-Mobile and Sprint say that Dish will be able to “take on leases for certain cell sites and retail locations that are decommissioned by the New T-Mobile for five years” after the divestiture closes.

Dish will pay T-Mobile approximately $5 billion for the assets it is acquiring: $1.4 billion for the prepaid businesses and $3.6 billion for the spectrum. 

Source: CNET