NEW YORK: Abernathy MacGregor is supporting T-Mobile in its $26 billion acquisition of Sprint, a deal which raises regulatory concerns as it would shave the number of major U.S. wireless carriers down to three.
On the other side of the deal, Sard Verbinnen & Co. is working with Sprint as well as SoftBank. The Japanese holding company acquired Sprint in 2013 with the goal of merging it with T-Mobile. That effort failed a year later because it did not pass regulatory hurdles.
AT&T previously courted T-Mobile in another acquisition in 2011 that also ultimately failed.
Since then, T-Mobile has surpassed Sprint as the third-largest carrier in the U.S., becoming a fast-growing challenger to its larger competitors AT&T and Verizon.
This deal once again pits T-Mobile and Sprint against tough regulations. However, companies are pitching the deal as a way for the U.S. to beat China as the leader in 5G connectivity, creating thousands of jobs.
T-Mobile CEO John Legere will lead the new entity, which will retain the magenta-hued brand.
The T-Mobile-Sprint merger is just the latest round of consolidation in telecoms. AT&T wants to acquire Time Warner, a proposal that caused the Department of Justice to file a suit blocking it. It also drew condemnation from President Donald Trump last year.
T-Mobile recently bumped comms chief Janice Kapner to EVP of comms and community engagement. She was formerly SVP of comms. The company also works with Porter Novelli and Pinta, as previously reported.
Representatives at T-Mobile and Sprint were not immediately available for comment.