The AP:
T-Mobile and Sprint have struck a deal that could reshape the U.S. wireless landscape, bringing it down to three major cellphone companies.
T-Mobile on Sunday closed a $26.5 billion agreement to merge with Sprint, upping Sprint’s market value to $6.62 per share, CNBC reported.
The deal will help the companies slash costs and could make them a stronger competitor to the larger AT&T and Verizon. But consumers might see higher prices because the combined company wouldn’t have to offer as many promotions to lure customers.