Sprint, T-Mobile agree to merge to form $146 billion company

A graphic with T-Mobile and Sprint's logos
Illustration: Lazaro Gamio/Axios

T-Mobile U.S. and Sprint have agreed to merge in a move to better compete against their two larger rivals in the cellphone business.

Why it matters: Regulators must still approve a deal and, in the past, authorities have been opposed to any deal that would reduce the number of national competitors from four to three.