Tech

Mobile pledges three-year price clampdown if merger is approved

Mobile pledges three-year price clampdown if merger is approved

After promising to add jobs with five new Customer Experience Centers post-merger, including in Overland Park where Sprint is headquartered, T-Mobile has now made another Sprint-focused pledge related to the merger.

Before the merger can move forward, it'll have to be approved by the FCC and the Justice Department.

New customers: T-Mobile added 2.4 million new customers in the fourth quarter, bringing the annual total to 7 million, up from 5.6 million additions in 2017.

A broad claim like that sounds good on paper, but Legere went a step further near the end of his letter, promising the FCC that, for the next three years, New T-Mobile's rates will be "the same or better" as what either T-Mobile or Sprint now offer.

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T-Mobile today is submitting to the Commission a commitment that I stand behind - a commitment that New T-Mobile will make available the same or better rate plans for our services as those offered today by T-Mobile or Sprint. The company also thinks that all wireless consumers would be better off after the merger as AT&T and Verizon would most likely reduce prices also to remain competitive.

The wireless operators say that joining forces will increase competition that could help with the introduction of super-fast 5G network speeds. Sprint trailed with 54 million. In this, he promised to keep rates "the same or less" than the current plans by T-Mobile and Sprint, for at least three years. Today, the unconventional executive told the FCC in a letter (via TmoNews) that prices will not go up if T-Mobile and Sprint get the thumbs up to combine. T-Mobile is targeting $12.7 billion to $13.2 billion in adjusted Ebitda in 2019, also slightly behind Wall Street's previous $13.4 billion estimate. The group says that the pledge is full of loopholes and contains a provision for higher monthly bills in the future on the pretext network improvements.

Profits: T-Mobile's net profits dropped 76 percent in the fourth quarter compared to past year. "Their response-inviting government agencies to regulate their behavior-seeks to impose precisely the kind of behavioral conditions that regulators have found insufficient in merger reviews". "Rather, our merger will ensure that American consumers will pay less and get more". Sprint's (s) stock price, up 16% over the past year, was unchanged.


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