Latham & Watkins Advises T-Mobile in Completed Deal to Divest Sprint Prepaid Business

Divestiture to DISH marks a major commitment fulfilled by T-Mobile as part of merger with Sprint.

July 01, 2020

T-Mobile US Inc. (NASDAQ: TMUS) has announced that as the supercharged Un-carrier continues its post-merger close efforts to build America’s best 5G network and bring the value of new T-Mobile to consumers across the United States, it has completed its previously announced divestiture of Sprint’s prepaid wireless business to DISH Network Corporation (NASDAQ: DISH). The divestiture fulfills a commitment that T-Mobile and Sprint made to the Department of Justice and to the Federal Communications Commission as part of their merger process. T-Mobile will receive approximately US$1.4 billion for Sprint’s prepaid business subject to a customary post-closing working capital adjustment. 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.

Latham & Watkins LLP represented T-Mobile as lead M&A counsel in the transaction with a corporate deal team led by New York partner David Allinson and Bay Area and New York partner Joshua Dubofsky, with associates Leah Sauter and Karen Song.

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