T-Mobile, Sprint amend merger terms; to close deal as early as April 1

REUTERS: T- Mobile US and Sprint Corp said on Thursday that they had agreed on new merger terms and were looking to close the deal as early as April 1.

Under the revised deal, T- Mobile's parent Deutsche Telekom will hold about 43per cent of the combined entity, up from the 42per cent that the German group would have held. SoftBank will hold about 24per cent and the rest by public shareholders.SoftBank has agreed to surrender about 48.

New York on Sunday dropped its fight against the merger of the U.S. wireless carriers, saying the state would not appeal the judge's approval of the deal. Deutsche Telekom CEO Tim Hoettges said on Wednesday the new T-Mobile would have a market value of around US$120 billion. That compares with US$274 billion for AT&T and US$242 billion for Verizon .

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