And then there was only 3 major wireless choices….
T-Mobile and Sprint announced Sunday that they reached an agreement to combine into a new company that would reshape the U.S. wireless landscape by reducing it to three major cellphone providers.
The deal would help the companies slash costs and could make them a stronger competitor to larger AT&T and Verizon. But consumers might see higher prices because the combined company would not have to offer as many promotions to lure customers.
The proposed all-stock deal values Sprint at about $59 billion and the combined company at $146 billion, including debt. Without debt, the combined company is valued at $26.5 billion.
It comes after Sprint dropped its bid for T-Mobile more than three years ago following concerns by the Obama administration about wireless competition. The two were poised to combine in October, but that deal was called off, too…..