T-Mobile closed its $26.5 billion merger with Sprint on Wednesday, concluding a years-long process that included touch-and-go negotiations, regulatory oversight, and lawsuits. T-Mobile will take over as the parent company with headquarters in Bellevue, Wash., and an outpost at Sprint’s former home base, Overland Park, Kan.

The wireless carriers announced their intention to merge in April 2018 and planned to close by the end of 2019. The merger was delayed by a variety of regulatory and legal hurdles. Eventually, T-Mobile and Sprint got the green light from federal regulators by agreeing to sell off assets to satellite TV provider Dish Network to create a new wireless carrier.

The companies faced their final obstacle in recent weeks as the coronavirus pandemic rocked financial markets around the world and threatened financing the merger requires. But T-Mobile and Sprint secured $23 billion of loans from 16 banks, according to Bloomberg. T-Mobile has closed 80% of its retail stores in response to the COVID-19 outbreak.

When the merger closes, I know #NewTMobile will be the best positioned to serve the public in times like these. More than ever, people need savings and a network they can really rely on – #NewTMobile will do that & more! Key info:https://t.co/0F3RPlMEo0 https://t.co/qNcb5jedxH — Mike Sievert (@Mike_Sievert) March 19, 2020

T-Mobile has grown dramatically under the leadership of CEO John Legere, but the firebrand executive is stepping down now that the merger is complete. The “New T-Mobile” will be led by former T-Mobile COO and president Mike Sievert. Though the executive transfer was planned for late April, Sievert is taking over ahead of schedule. He stepped into the new role as soon as the merger closed.

Legere “changed what it means to be a CEO.” Sievert said in a statement. “Everything that T-Mobile has accomplished is the result of his vision for what a different kind of wireless provider could be.”

Legere’s brash style and all-magenta wardrobe became emblematic of T-Mobile’s transformation since he took the position in 2012. The company branded itself the “Uncarrier” and launched an unlimited wireless plan and other programs that other carriers later adopted. In addition to Sievert, the new senior leadership team combines T-Mobile and Sprint executives, with some employees continuing in their current roles and others taking over new positions.

T-Mobile says its new network will have 14 times more capacity in the next six years than it does today. The company is planning an aggressive expansion of 5G wireless service, a linchpin of the case T-Mobile and Sprint made to federal regulators. T-Mobile says 99% of the U.S. population will have access to the next generation wireless technology within six years. T-Mobile also plans to roll out wireless in-home broadband internet.

Sprint investors will see their shares converted to T-Mobile stock. About 9.75 Sprint shares will equal one T-Mobile share, according to the company. Shares of the combined company will continue to trade under the name T-Mobile.

The combined company will have about 140 million customers, based on their 2019 financial documents. At the end of the year, T-Mobile had a net total of 86 million customers and Sprint had approximately 54 million. The additional customers make T-Mobile more competitive with industry titans AT&T and Verizon.