Mobile vows not to raise prices if Sprint merger approved

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After promising to add jobs with five new Customer Experience Centers post-merger, including in Overland Park where Sprint is headquartered, T-Mobile has now made another Sprint-focused pledge related to the merger.

The proposed T-Mobile-Sprint merger has already received approval from the Treasury Department and is awaiting approval from the Department of Justice and the FCC.

In a letter sent to the United States FCC Chairman, John Legere outlines some of the expectations that “the New T-Mobile” has in terms of keeping prices competitive while offering customers more.

Most importantly, the merger with Sprint will enable T-Mobile to "break down this traditional trade-off that consumers have always been forced to make, which is: 'Do you want a good deal or do you want the best network?'" he said. We believe this merger makes consumers better off, and we're willing to put our money where our mouth is. When companies as big as T-Mobile ...

Shares of T-Mobile were down 3.69 percent as of 4:04 p.m. ET on Tuesday, while shares of Sprint were down 6.09 percent.

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The letter also implies that following the merger, consumers will get more bang for their buck.

As T-Mobile and Sprint look for approval to close their merger deal, the companies have proposed a new deal to hold prices for customers for three years. T-Mobile announced plans to acquire Sprint for $26 billion to merge the two telecom companies. It also might have to raise the prices of third party services whose costs are not controlled by T-Mobile. T-Mobile has added more than a million customers in 23rd straight quarters, and it now has almost 80 million customers, up from 72.6 million at the end of previous year.

Shares of T-Mobile, which have risen 9% over the past year, gained 1% in after hours trading.

The wireless operators say that joining forces will increase competition that could help with the introduction of super-fast 5G network speeds.

Customers of T-Mobile (TMUS) and Sprint (S) may catch a break if the Federal Communications Commission approves the deal to allow the two wireless carriers to merge.