T-Mobile and Sprint announced Sunday that they will merge the two wireless companies.
This change will make the major cell phone companies to just three. The combined company will be named T-Mobile, and it will be a force for positive change in the U.S. wireless, video, and
broadband industries., according to the joint statement given by the carriers.
The combined company will have lower costs and better quality, that could essentially help them compete with AT&T and Verizon, says the statement.
This proposed deal values Sprint at approximately $59 billion and approximately $146 billion for the combined company.
Sprint dropped its bid for T-Mobile more than three years ago after running into concerns about wireless competition in the Obama administration. The two were poised to combine in October, but that deal was called off, too.