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T-Mobile and Sprint merger could close by April 1st

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Following the last major regulatory hurdle being cleared earlier this month, Sprint and T-Mobile have announced today that they’ve finalized the new terms for their merger. The two carrier say the deal could close as early as April 1, creating the “New T-Mobile.”

As detailed by CNET, the new terms of the deal give Deutsche Telekom a larger stake in New T-Mobile. This change was made to improve the exchange ratio in the all-stock deal.

As part of the new terms of the deal, T-Mobile’s parent company Deutsche Telekom will get a larger stake in the new company. The German telecom giant will own 43% of the new company. Meanwhile, Softbank, which is majority owner of Sprint, will own 24% of the new company with the remaining 33% being held by public shareholders.

CEO of T-Mobile John Legere said the today’s announcement is “another significant step forward toward closing this transaction.” According to Legere, the goal remains to develop a nationwide 5G network.

T-Mobile apparently thinks this could all be wrapped up by April 1st, the last month before John Legere steps aside for incoming CEO Mike Sievert.

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