Sprint stockholders will receive .10256 of a T-Mobile share that works out to a current valuation of $10.20 for each share of Sprint. Once the deal closes, a second transaction involving Dish Network will come into play. The satellite television provider will pay Sprint $5 billion for its prepaid businesses including 9.3 million customers, 7,500 retail stores, 14MHz of 800MHz spectrum and more. Dish will sign a seven-year MVNO agreement with T-Mobile that will allow it to sell wireless service under its name while it builds out a standalone 5G network. Eventually, it is hoped that Dish will replace Sprint as the nation’s fourth-largest carrier.

T-Mobile will now obtain the mid-band spectrum that it has been longing for. This will help it enhance its nationwide 5G network and offer such service to rural Americans. With the deal, T-Mobile will now be able to use low, mid, and high-band airwaves to provide a solid foundation for its nationwide 5G network. Company CEO John Legere said, “Today’s announcement is another significant step forward toward finally closing this transaction! Throughout this journey, T-Mobile and Sprint have been singularly focused on one thing: building a supercharged Un-carrier that will offer U.S. consumers a broad and deep nationwide 5G network, more choice and greater competition. We are now on the threshold of achieving our goal. And did I mention how fun it’s going to be sticking it to Dumb, Dumber and Big Cable along the way? This is going to be epic!”