T-Mobile, Sprint make third attempt to merge

T-Mobile and Sprint have agreed to merge in an all-stock transaction after weeks of talks between the two cellphone carriers. When the markets closed Friday, T-Mobile was worth $55 billion and Sprint was worth $26 billion. T-Mobile said the new company will retain the T-Mobile name and headquarters in Bellevue, Wash. It will also spend nearly $40 billion over three years building a nationwide 5G network. The merger would make T-Mobile the nation’s third-largest mobile carrier behind Verizon and AT&T. Federal regulators must still approve the move. The two companies attempted to merge in 2014, but the deal fell apart amid resistance from the Obama administration. And in 2017 another potential merger fell through over disagreements as to who would control the company.