T-Mobile closes deal with DISH to divest Sprint prepaid businessChristian Fernsby ▼ | July 3, 2020
T-Mobile US Inc. announced that it has completed its previously announced divestiture of Sprint’s prepaid wireless business to DISH Network Corporation.
Topics: T-Mobile DISH Sprint
The divestiture of Sprint’s prepaid business represents more than 9.3 million customers. T-Mobile will receive approximately $1.4B for Sprint’s prepaid business subject to a customary post-closing working capital adjustment.
Additionally, the divested prepaid customers and new DISH wireless customers will have full access to the new T-Mobile network in a phased approach through a mobile virtual network operator (MVNO) arrangement, as well as through an infrastructure mobile network operator (MNO) arrangement enabling roaming in certain areas until DISH’s 5G network is built out.
In connection with the closing of the DISH transaction, T-Mobile, Sprint and DISH entered into certain other ancillary agreements, including a spectrum purchase agreement. ■