T-Mobile, Sprint agree all-stock merger

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(Telecompaper) T-Mobile US and Sprint have agreed to merge in an all-share deal, creating a new major player in the US mobile market to rival Verizon and AT&T. Under the agreed terms, Deutsche Telekom will own 42 percent of the merged group, down from 62 percent in T-Mobile, and SoftBank Group will have a 27 percent stake, down from nearly 85 percent in Sprint. The group will be called T-Mobile, with the remainder of its shares remaining listed on the stock market and John Legere continuing as CEO. 
Source: Industry News (syndicated from Telecompaper.com)