T-Mobile US has today announced that its merger with Sprint is now officially completed, and will create the New T-Mobile, which, according to the companies, will become a "supercharged Un-carrier that will deliver a transformative 5G network".
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”. And the combined company will operate under the name T-Mobile.
“During this extraordinary time, it has become abundantly clear how vital a strong and reliable network is to the world we live in," said Mike Sievert, president and CEO of T-Mobile. "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."
The merger also marks the end of the transition period from outgoing CEO John Legere, the very public face of T-Mobile, to Mike Sievert. Effective immediately, Sievert will assume the role of CEO of T-Mobile.
Legere, who served as CEO of T-Mobile since 2012, was a divisive figure at times, spearheading campaigns against the companies competitors, but he also helped to raise the profile of T-Mobile, and disrupt an industry where the leading companies did little to differentiate themselves.
“All of us at T-Mobile owe John an incredible thank you for everything he’s done to get this company to where we are today," said Sievert. "He has changed what it means to be a CEO. Everything that T-Mobile has accomplished is the result of his vision for what a different kind of wireless provider could be. 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. He has always pushed the boundaries of what’s possible and pushed us to do the same."
Thanks also went out to Sprint's CEO Marcelo Claure, and the rest of the Sprint leadership team. And customers of both companies were reassured that they were now part of the 'World's most transformative network'.
"With 14 times more total capacity in the next six years than T-Mobile has today, customers won’t have to choose between great service or low prices — they’ll get both," the statement read. "The New T-Mobile will offer free access to 5G and the best rate plans at low prices, now and in the future, so all customers can reap the benefits of a supercharged Un-Carrier network at a great value. And the New T-Mobile has committed to delivering the same or better rate plans for three years, which includes access to 5G, including for prepaid and Lifeline customers."