Good news for Team Magenta: John Legere will reportedly remain at T-Mobile

Last week we passed along a rumor that was troubling for T-Mobile investors, subscribers and the U.S. mobile industry as a whole. Reportedly, the carrier's CEO, John Legere, was being recruited by former rival turned partner Marcelo Claure to become CEO of WeWork. Claure, the chairman of Sprint, once called the brash T-Mobile executive a con man. Eventually, the two bonded over the proposed T-Mobile merger with Sprint.
Sources say Legere was never the top choice for the CEO job at WeWork
Since the merger was announced on April 29th, 2018, T-Mobile has continued to add new postpaid phone subscribers while Sprint continues to lose customers in this key category. The current terms of the deal call for Sprint stockholders to receive .10256 of a T-Mobile share currently valued at $8. With Sprint trading at $5.83, it would seem that most Wall Street investors and arbs expect T-Mobile to rework the terms of the merger. If Legere were to be the CEO of WeWork, owned by Sprint parent SoftBank, he would have had a top executive position on both sides of the transaction which no doubt would have been frowned upon by regulators.
If you're wondering why the fastest-growing major U.S. carrier is so interested in merging with a wireless provider with as many problems as Sprint has, it is all about the hoard of 2.5GHz mid-range spectrum that the latter owns. Mid-band spectrum is hard to come by in the U.S. and T-Mobile wants to employ Sprint's airwaves in combination with its own low-band 600MHz and ultra-high mmWave signals to complete the first nationwide 5G network in the states. Starting on December 6th, T-Mobile says that it will cover over 200 million Americans with its 5G signal partly using the 600MHz spectrum that it paid nearly $8 billion for during an FCC auction in 2017.
So now that it appears that Legere is staying put, you can expect more trolling of Verizon and AT&T, more outlandish comments and the hilarious annual holiday video that is becoming a tradition that smartphone and mobile enthusiasts enjoy viewing every year.
3 Comments
1. Venom
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posted on Nov 17, 2019, 1:18 AM 0
4. TBomb
Posts: 1671; Member since: Dec 28, 2012
posted on Nov 18, 2019, 11:31 AM 0
5. Venom
Posts: 3833; Member since: Dec 14, 2017
posted on Nov 18, 2019, 6:38 PM 0
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