T-Mobile's Sale of Boost Mobile to DISH Will Finally Close On July 1
The seven-year merger saga involving T-Mobile US (NASDAQ: TMUS) and Sprint will end in a couple of weeks, at the hands of a third participant. T-Mobile just finalized the last part of the merger agreement, which offloads Sprint's prepaid mobile services to DISH Network (NASDAQ: DISH) along with a basket of radio spectrum licenses, creating a new national carrier to keep four major network names available on a nationwide level.
Dish's acquisition of the listed Sprint assets was originally expected to happen by June 1, but the companies continued to negotiate the terms of this deal past that deadline.
Dish chairman Charlie Ergen reportedly demanded that all of Dish's prepaid mobile subscribers should be able to use T-Mobile's full network rather than the less impressive Sprint infrastructure. This sticking point held up the $1.4 billion payment from Dish to T-Mobile, even though the whole deal was designed under antitrust orders from the U.S. Department of Justice.
Source Fool.com
