Cellphone giants Sprint and T-Mobile announce merger

NEW YORK — T-Mobile and Sprint announced Sunday that they reached an agreement to combine into a new company that would reshape the U.S. wireless landscape by reducing it to three major cellphone providers.
The deal would help the companies slash costs and could make them a stronger competitor to the larger AT&T and Verizon. But consumers might see higher prices because the combined company would not have to offer as many promotions to lure customers.
The proposed all-stock deal values