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T-Mobile Completes Sprint Merger, CEO Switch

By Daniel B. Kline – Apr 1, 2020 at 10:20AM

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The deal makes the company a much stronger number three in the wireless space.

T-Mobile (TMUS 3.52%) finally has completed its merger with Sprint. The combined company will use the T-Mobile name and its TMUS stock symbol. Sprint will continue as a consumer brand for the foreseeable future.

With the merger closing, the company has also completed its planned transition from John Legere to Mike Sievert as CEO ahead of schedule. Legere will remain on the board of directors.

Former T-Mobile CEO John Legere.

Former T-Mobile CEO John Legere will remain a member of the company's board. Image source: T-Mobile.

A new day for T-Mobile

With the merger complete, T-Mobile now shifts its focus to building a nationwide 5G network. Doing that quickly (and well) will help the company in its ongoing battle against AT&T and Verizon.

"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 in a press release. "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."

A powerful legacy

It's fair to say that Legere not only rescued T-Mobile, but also changed the wireless industry. The moves he made forced the other big players in the space to make consumer-friendly changes.

"John IS what the Un-carrier is all about: advocating for customers at every turn, forcing us to think differently and always driving for more," Sievert said. "He has always pushed the boundaries of what's possible and pushed us to do the same."

Legere has not said what his next move will be or if he plans to pursue another CEO job.

Daniel B. Kline has no position in any of the stocks mentioned. The Motley Fool recommends T-Mobile US and Verizon Communications. The Motley Fool has a disclosure policy.

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Stocks Mentioned

T-Mobile US, Inc. Stock Quote
T-Mobile US, Inc.
TMUS
$138.90 (3.52%) $4.73
Verizon Communications Inc. Stock Quote
Verizon Communications Inc.
VZ
$39.16 (3.13%) $1.19
AT&T Inc. Stock Quote
AT&T Inc.
T
$15.90 (3.65%) $0.56

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