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.