Per an email from Sprint CEO Michel Combes, Sprint and T-Mobile have amended their Business Combination Agreement, or “BCA”
Both boards of directors approved the amendment, and details can be found in our joint press release with T-Mobile and in the Form 8-K filed by Sprint.
Per Combes, the exchange ratio hasn’t changed and Sprint shareholders will still receive an exchange ratio of 9.75 Sprint shares for each T-Mobile US share.
What he didn’t say was what HAD changed.
Combes went on to say the largest remaining step is a decision from the California PUC and they are working closely to complete the process as quickly as possible.
He finished with a bit of a tease…
—Securing the BCA is the moment we have waited for to ensure we are fully aligned before we announce the new senior leadership team. I expect you will hear those names very soon, and I am quite pleased that the new company will include a strong mix of leaders from T-Mobile and Sprint.
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