After years of rumors, the T-Mobile and Sprint merger is finally official.
The newly combined company will be called T-Mobile, and infamous CEO John Legere will remain in place at the top of the company. Mike Sievert, current Chief Operating Officer of T-Mobile, will serve as President and Chief Operating Officer of the combined company
The deal is an all-stock transaction and is valued at $26 billion. Sprint shares will be valued at 0.10256 of T-Mobile shares.
The newly combined company will maintain both corporate headquarters located in Bellevue, Wash. and Overland Park, Kan.
While this deal has been rumored for years, this announcement is not the end of the saga. The merger will face scrutiny from the Trump administration which is currently putting up resistance to the AT&T proposal to purchase Time Warner. Despite this potential hurdle, Legere said on a conference call following the announcement that the deal was expected to close in the first half of 2019.