T-Mobile US Inc (NYSE:TMUS) has not officially announced this tidbit in its fourth quarter earnings report, but Legere made it official by stating in the earnings call of the carrier that his company is now larger than Sprint Corp (NYSE:S).
“I’ve been very gracious on this as the year ended and people were saying, ‘Hey, he predicted he was going to pass Sprint and he didn’t.’ Well, we did. That’s the gig,” Legere said
According to him, T-Mobile US Inc (NYSE:TMUS) has vastly grown in the past years while its rival Sprint Corp (NYSE:S) has stagnated.
Legere pointed out that going into 2013, his rival company had 55 million subscribers. Exiting that year, the company still had the same number of subscribers. Going into 2015, Sprint Corp (NYSE:S) still has 55 million subscribers with a churn of 3.3 million postpaid subscribers for that period, he said.
T-Mobile US Inc (NYSE:TMUS), on the other hand, had 33 million subscribers at the start of that period, according to Legere. Merging with MetroPCS increased that number to 42 million, the executive noted.
“[…] we’ve since added 13 million customers to get up to, guess what, 55 million customers,” Legere stressed.
For those wondering why Legere did not say that the carriers are “tied,” the T-Mobile CEO said that his rival company may be using some questionable tactics including adding inactive MVNO subscribers to the total to inflate their subscriber base number.
John Paulson’s Paulson & Co was the largest institutional investor in T-Mobile US Inc (NYSE:TMUS) by the end of 2014 with a stake comprised of about 15.34 million shares, up 3% quarter over quarter.
Meanwhile, William B. Gray’s Orbis Investment Management was the largest institutional investor in Sprint Corp (NYSE:S) by the end of 2014 with a stake comprised of about 69.44 million shares, worth about $288.16 million then, that it added to its portfolio just in the fourth quarter of 2014.
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