T-Mobile completes merger with Sprint; Puerto Rico to have ‘1st-class network’
T-Mobile US, Inc. announced today that it has officially completed its merger with Sprint Corporation to create the New T-Mobile, that promises to deliver upgraded networks, better products at lower prices, and greater shareholder value.
For Puerto Rico, the merger means the disappearance of a brand that has been in the market for several decades and the migration of Sprint’s customers to the T-Mobile network.
When the conversion is completed, Puerto Rico will have three carriers: T-Mobile, Claro de Puerto Rico and AT&T, which is also soon to be bought out by Liberty Puerto Rico that has vowed to continue offering the wireless service.
“In December, we launched the first and only 5G network in Puerto Rico, positioning it among the first markets in the world, with coverage in areas of all the municipalities of Puerto Rico, including Vieques and Culebra,” said Jorge Martel, general manager of T-Mobile Puerto Rico.
“And we won’t stop … Today we formally announce the arrival of the New T-Mobile, further reaffirming our commitment to Puerto Rico and our customers,” he said.
“At such a critical moment, as in the crisis we face today, where communication plays a vital role, we’re focused on continuing working and investing to keep our clients and Puerto Rico connected,” he said.
“The commitment of the New T-Mobile to offer a 5G network, with breadth and depth, and what we are developing is absolutely essential for consumers,” Martel added.
He said T-Mobile Puerto Rico is
now preparing its plans, benefits, and retail/customer care experiences to
serve legacy Sprint and T-Mobile customers as well as the new T-Mobile
customers.
“While exciting changes are coming
soon, in the meantime, you can expect the same great coverage, benefits, and
pricing.There’s not a thing Sprint or T-Mobile customers need to do,”
he said.
For now, all customers will keep the
same Sprint and T-Mobile network, stores, and service they’ve been using while
behind the scenes, the company will “be working hard to bring it all together
to create an amazing experience for customers of the new T-Mobile. Both brands
will continue to exist and over time everything will evolve to T-Mobile.”
In a statement, the company confirmed its commitment to building the “world’s best broad and deep nationwide 5G network, which will bring lightning-fast speeds to urban areas and underserved rural communities alike, is more critical than ever, as reliable connectivity has become so important to Americans.”
T-Mobile said it will continue to improve upon its network, which it says has gained 14 times more capacity in six years.
“This supercharged 5G network that we’ll build as a combined company will be a huge step forward, transforming wireless, fueling innovation and delivering new experiences for all, which will result in Puerto Rico having a first-class telecommunications infrastructure,” said Martel.
“We continue to take firm steps and the New T-Mobile brings greater value and benefits for all,” he added.
In the statement, T-Mobile said the “enhanced scale and financial strength of the combined company will drive a planned investment of $40 billion into its network, business and more over the next three years. Synergies achieved from the integration have the potential to unlock massive scale and unleash at least $43 billion in value for shareholders.”
The company also announced that with close of the merger, it has completed its long-planned CEO transition from John Legere to Mike Sievert ahead of schedule.
Effective immediately, Sievert will assume the role of CEO of T-Mobile. Legere, who served as CEO of T-Mobile since 2012, built a culture around listening to employees, putting the customer first and shaking up the market.
During his tenure, Legere engineered a turnaround of the company as T-Mobile disrupted the wireless industry and “became the fastest growing company in wireless, capturing 80% of the industry’s postpaid phone growth from 2013 to today.”
Legere will continue as a member of the Board of Directors for the remainder of his current term, through the annual shareholders’ meeting in June 2020.
“During this extraordinary time, it has become abundantly clear how vital a strong and reliable network is to the world we live in. The New T-Mobile’s commitment to delivering a transformative broad and deep nationwide 5G network is more important and more needed than ever and what we are building is mission-critical for consumers,” said Sievert.
“With this powerful network, the New T-Mobile will deliver real choice and value to wireless and home broadband customers and double down on all the things customers have always loved about the Un-carrier. T-Mobile has been changing wireless for good — and now we are going to do it on a whole new level,” he said.
The parent of the combined company is T-Mobile US Inc., whose shares of common stock will continue to trade on the NASDAQ Global Select Market under the symbol “TMUS.” The combined company will operate under the name T-Mobile.
