T-Mobile to spend up to $3B on saying bye to Sprint, according to Fox Business

From Fox Business:

T-Mobile US Inc. said its nearly year-old merger with Sprint Corp. will saddle the combined company with more costs this year as its engineers shift more subscribers onto a single network.

The Bellevue, Wash., company said it would spend $2.5 billion to $3 billion before taxes folding the stores, employees and network infrastructure it acquired from its one-time competitor into the new business. The company spent about $1.9 billion on such expenses last year.

T-MOBILE PICKS UP PACE OF ITS COST-CUTTING PROGRAM

The added burden pushed T-Mobile’s fourth-quarter net income to $750 million, or 60 cents a share, compared with a year-earlier result of $751 million, or 87 cents a share. The latest quarterly result included $686 million of merger costs. Revenue jumped to $20.3 billion from $11.9 billion a year earlier, before the company had absorbed Sprint.

Continue reading T-Mobile to spend up to $3B on saying bye to Sprint on Fox Business

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