T-Mobile completed the merger with Sprint in a $53bn deal.

T-Mobile US, a publicly listed subsidiary of Deutsche Telekom, and Sprint, a publicly listed subsidiary of Softbank Group, together with Deutsche Telekom and Softbank, completed the merger of the two companies in an all-stock transaction. The combined company is named T-Mobile. Under the terms of the transaction, Sprint shareholders received a fixed exchange ratio of 0.10256 T-Mobile shares for each Sprint share or the equivalent of approximately 9.75 Sprint shares for each T-Mobile share. As previously announced, per a separate arrangement, SoftBank surrendered approximately 48.8m T-Mobile shares acquired in the merger to New T-Mobile immediately following the closing of the transaction, making SoftBank’s effective ratio 11.31 Sprint shares per T-Mobile share. “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. I want to thank Marcelo Claure and the entire Sprint leadership team for their hard work to get us to this huge day! We did it!... and I’m looking forward to welcoming Sprint employees into Team Magenta, and to working with you now as a member of our Board of Directors,” Mike Sievert, T-Mobile President and CEO.