Posted by The Times Of India on Monday, December 15, 2017 04:10:15Verizon’s purchase of T-Mo for $35 billion is the latest in a series of deals that will see the U.S. wireless giant scoop up the nation’s largest wireless carrier.
The deal is part of Verizon’s efforts to expand its reach into the Indian market as the country’s biggest phone maker.
In the deal, T-mobile will get a 51.3% stake in the company.
It will also retain the rights to a 40.5% stake that was acquired by Sprint for $5.2 billion in 2014.
Verizon will retain the option to sell a portion of the stake back to Sprint.
T-Mobile will be a strategic partner for the carrier in the coming years.
As part of the deal announced on Monday night, T, which will have its headquarters in Chicago, will also gain access to Sprint’s data network.
T-Mob will be able to deploy its network on Sprint’s network and get access to T-mo customers through its network, which is already used by Verizon, said a statement from the company, which was not able to disclose the price of the transaction.
Verizon also will retain Sprint’s voice and data networks in India.
This will give T-mob more flexibility in choosing which customers it can reach.
It is also the second time Verizon has been involved in a wireless deal in India after the acquisition of Videocon in 2018.
Verizons deal with T-Mobiles in India is also part of a $400 billion deal announced last week that also includes the sale of its wireless carrier, which now is called MetroPCS.