T-Mobile CEO Announces Plans on Becoming Number One in the U.S. | Financial Buzz

T-Mobile CEO Announces Plans on Becoming Number One in the U.S.

The german communications Company, Deutsche Telekom, is aiming to become the market leader in the U.S. with its United States arm T-Mobile US, Inc. (NASDAQ: TMUS), which is on the finish line to take over Sprint (NYSE: S).

The Companies announced finalizing steps of the merger, after receiving a favorable decision on Federal Court in New York last week.

“We have the chance to become No.1 in the United States, to overtake AT&T and Verizon. That is our ambition,” Hoettges told reporters in Bonn after Deutsche Telekom reported record annual results in its 25th year as a listed company.

Citi Analyst Georgios Ierodiaconou said regarding T-Mobile’s financial performance: “The results were strong, particularly in Europe, and reassuring on Germany.

The Chief Executive Officer of T-Mobile has worked on this deal, which would create a transatlantic business with 270 million customers, for around seven years.

Hoettges said the new T-Mobile would go on the attack with AT&T (NYSE: T) and Verizon (NYSE: VZ).

The T-Mobile CEO declared that the new T-Mobile would have a market value on paper of USD 120 billion, compared to USD 274 billion for AT&T and USD 242 billion for Verizon, leaving a gap that he thinks can be tremendously shrinked.

The T-Mobile CEO stated: “That is a difference of around $120 billion. I see no reason why this cannot be reduced considerably.”

Based in Bellevue, Washington, T-Mobile US aims to redefine the way customers buy wireless services through leading product and service innovation, and provides services through its subsidiaries and operates its flagship brands, T-Mobile and Metro by T-Mobile.

Serving 54.2 million connections in 2019, Sprint is a communications service company that created more ways to connect customers.

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