As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
Delta is gathering more data from customers than ever in hopes of avoiding customer service problems and increasing customer satisfaction, its CFO says.At Workread more
The Biden team's second-quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
WHEN: Today, Thursday, August 18th
WHERE: CNBC's "Squawk on the Street"
Following is the unofficial transcript of a FIRST ON CNBC interview with T-Mobile CEO John Leger on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today, Thursday, August 18th. Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000544123.
All references must be sourced to CNBC.
CARL QUINTANILLA: T-MOBILE ANNOUNCING IT'S GOING ALL-IN ON UNLIMITED DATA THIS MORNING. THE COMPANY ANNOUNCING THAT CUSTOMERS WON'T HAVE TO WORRY ABOUT DATA LIMITS AGAIN WITH UNLIMITED TALK, TEXT AND INTERNET ON T-MOBILE'S HIGH SPEED 4G LTE NETWORK. $40 A LINE FOR A FAMILY OF FOUR. JOINING US THIS MORNING FIRST ON CNBC IS T-MOBILE CEO JOHN LEGERE. JOHN, IT IS GOOD TO SEE YOU THIS MORNING. GOOD MORNING.
JOHN LEGERE: GREAT TO SEE YOU. WELCOME BACK FROM RIO.
QUINTANILLA: THANK YOU, MAN. YOU DEFINITELY KNOW HOW TO LIGHT UP A ROOM. EVERYBODY IS TALKING ABOUT THIS PLAN, TRYING TO UNDERSTAND WHAT IT INCLUDES, WHAT IT DOES NOT INCLUDE. BE AS TRANSPARENT AS YOU CAN. WHAT DO YOU GET?
LEGERE: YEAH. LISTEN, CARL, THIS IS UN-CARRIER 12, AND AS YOU KNOW FROM BEING TOGETHER WITH ME, AN UN-CARRIER MOVE IS A PINNACLE CHANGE TO THE WIRELESS INDUSTRY, STARTING WITH SOLVING A PAIN POINT. AND OVER 1 MILLION CUSTOMERS HAVE TOLD ME THE BIGGEST PAIN POINT IS THEY HATE DATA PLANS. THEY HATE DATA BUCKETS. AND TODAY I OFFICIALLY ENDED THE ERA OF DATA BUCKETS AND WENT ALL-IN ON UNLIMITED. AS YOU SAID, FAMILY OF FOUR, IT IS A MONTHLY SUBSCRIPTION TO THE INTERNET. IT IS VERY SIMPLE. YOU GET UNLIMITED CALLING, UNLIMITED TEXT, UNLIMITED 4G LTE AND UNLIMITED VIDEO STREAMING AT STANDARD DEF. AND YOU KNOW THIS IS ALL-IN, UNLIMITED NO DATA PLANS. BY THE WAY, CARL, WE ARE THE ONLY NETWORK THAT CAN DO THIS. NOT ONLY ARE WE THE ONLY ONES THAT WILL, SO IT'S A NEW ERA, VERY SIMPLIFIED. IT'S CALLED T-MOBILE 1 AND WE'RE REPLACING ALL OF OUR RATE PLANS WITH THIS. AND IT'S VERY, VERY EXCITING AND IT'S A BIG CHANGE AND I CHALLENGE THE WHOLE REST OF THE INDUSTRY TO FIGURE OUT HOW TO DO IT.
QUINTANILLA: WHAT ABOUT, NOW, PEOPLE HAVE A LOT OF QUESTIONS ABOUT HD STREAMING FEES, ABOUT TETHERING.
QUINTANILLA: HOW EASY IS IT TO REPLICATE THE OPPORTUNITIES YOU HAVE NOW UNDER THIS NEW UNLIMITED PLAN?
LEGERE: YEAH, AND AGAIN, VERY CLEAR AND TRANSPARENT. REMEMBER, BINGE ON, WHICH WAS ONE OF OUR RECENT UN-CARRIER MOVES, GAVE US TREMENDOUS AMOUNTS OF LEARNING ABOUT HOW PEOPLE STREAM VIDEO ON MOBILE DEVICES. AND WITH THIS, WHAT WE'RE DOING, IS WE'RE PROVIDING UNLIMITED VIDEO STREAMING, NO DATA BUCKETS, AT STANDARD DEFINITION. FOR THOSE FOR SOME REASON AND THERE AREN'T THAT MANY, WHO WANT ULTRA HD, YOU CAN ADD FOR $25 A LINE AND HAVE FULL ULTRA HD. ANOTHER PIECE THAT'S IMPORTANT, SO TETHERING IS INCLUDED. THERE ARE UPGRADED TETHERING PACKAGES AS WELL. BUT I THINK ONE OF THE THINGS THAT'S BIG, BIG, BIG, BIG, IS YOU CAN NOW ADD TABLETS WITH UNLIMITED STREAMING. SO, FOR $20 A TABLET, YOU CAN ADD THAT TO THIS. SO IT'S EVERYTHING EVERYBODY WANTS TO SEE IS THERE. YOU CAN LIVE AN UNLIMITED LIFE AND AS YOU KNOW, IT'S A BIG DEAL.
SARA EISEN: YOU SAY YOU'RE THE ONLY ONE DOING IT, JOHN, BUT YOUR FRIEND MARCELO CLAURE, THE CEO OF SPRINT, TWEETED T-MOBILE AND JOHN LEGERE SO NICE OF YOU TO FOLLOW US AFTER OUR SUCCESSFUL UNLIMITED MARKETING TRIALS. THEY ANNOUNCED AN UNLIMITED PLAN TODAY AND THEY SAY THEY'VE BEEN OUT DOING TEST TRIALS IN THE MARKET FOR WEEKS.
LEGERE: ISN'T THAT SAD, ACTUALLY, THAT HE TWEETED OUT? I THINK IT IS KIND OF – IS THAT THE SAME GUY WHOSE OWNER WOKE UP –
EISEN: AREN'T YOU THE KING OF TRASH TALKING ON TWITTER?
LEGERE: OH, I'M GETTING BETTER BY THE MINUTE. ISN'T THAT THE GUY WHOSE OWNER WOKE UP YESTERDAY AND PANTED THAT HE LOVES T-MOBILE? I MEAN, THE VERIZON GUY MAY HAVE SWITCHED TO SPRINT, BUT I THINK THE SPRINT OWNER MIGHT HAVE SWITCHED TO T-MOBILE. LISTEN, SPRINT'S GOT PROBLEMS OF THEIR OWN. THEY'RE NOT INVESTING IN THEIR NETWORK, THEY GOT HUGE BALANCE SHEET ISSUES, THEY HAVE NEW PLANS THAT NEED TO BE DONE. THIS IS NOT ABOUT THEM. IT'S ABOUT US GOING DIRECTLY AFTER VERIZON AND AT&T WHOSE NETWORKS CANNOT HANDLE THIS. AND US RESPONDING TO OUR CUSTOMERS. HERE'S AN IMPORTANT NOTE. SINCE WE DID THE FIRST UN-CARRIER MOVE, POST PAID PHONE CUSTOMERS TO T-MOBILE HAVE BEEN 11.2 MILLION. THE REST OF THE OTHER THREE, MINUS 250,000. SO TRUST ME, WE RESPOND TO NO ONE. WE LISTEN TO OUR CUSTOMERS. WE'RE CHANGING THE INDUSTRY. DATA BUCKETS ARE DEAD. FULLY UNLIMITED DATA. BRING IT ON. I HOPE THEY ALL TRY IT. TAKE YOUR BEST SHOT.
SCOTT WAPNER: HEY JOHN, IT'S SCOTT WAPNER. I MEAN, CLAURE IS BRINGING IT ON. HE ALSO TWEETED, COME ON, JOHN LEGERE, ALL THIS DRAMA FOR THIS. SPRINT NEW PLANS ARE MUCH BETTER WITHOUT THE DRAMA QUEEN SHOW. HE GOES ON TO SAY, YOU ARE A TRULY GREAT – YOU TRULY ARE A CON ARTIST. NO DOUBT GOOD LUCK.
LEGERE: YEAH. SCOTT, IF YOU WOKE UP AND ANDREW ROSS SORKIN OR CARL TOTALLY SCOOPED YOU AND DID SOMETHING THAT YOU'VE BEEN DRAGGING YOUR FEET AND TRYING TO FIGURE OUT HOW TO DO AND YOU HAD TO JUMP BACK OUT WHAT WOULD YOU DO? AND SO REMEMBER, ALL I KNOW IS THIS IS WHAT MY CUSTOMERS WANT. I'M ADDING CUSTOMERS FROM EVERYBODY ELSE IN THE INDUSTRY. MARCELO NEEDS TO WAKE UP AND REALIZE THAT THE MOTHER OF ALL CUSTOMER LOADS IS SITTING IN VERIZON AND AT&T. 77% OF MY CUSTOMER ADDS COME FROM THOSE TWO. AND I THINK HE SHOULD FOCUS ON FIXING HIS COMPANY AND, YOU KNOW, JUST COPY PASTE EVERYTHING I DO AND YOU'LL BE FINE.
WAPNER: I TOLD QUINTANILLA AND SORKIN I WOULD NEVER CALL THEM CON ARTISTS IF THEY TRIED THAT ON ME. SO DON'T WORRY ABOUT THAT. BUT NO, SERIOUSLY, I KEEP READING THAT SOFTBANK, WHICH OWNS 80% OF SPRINT, WANTS TO STILL DO A DEAL WITH YOU. YOU AND CLAURE COULD END UP AT THE THANKSGIVING TABLE ONE OF THESE DAYS NO MATTER WHAT YOU GUYS SAY BACK AND FORTH.
LEGERE: YEAH, IF WE ENDED UP AT THE THANKSGIVING TABLE, I'D THROW POTATOES IN HIS FACE. LISTEN, ALL WE LEARNED YESTERDAY, LET ME TELL YOU WHAT WE LEARNED YESTERDAY. WE LEARNED YESTERDAY THAT THE OWNER OF SPRINT WOKE UP THINKING ABOUT T-MOBILE AND YOU KNOW WHAT'S FUNNY? I DID, TOO. IT'S FASCINATING. IT MUST REALLY SUCK TO BE SPRINT AND HAVE YOUR OWNER THINKING ABOUT T-MOBILE.
EISEN: BUT YOU KNOW WHAT –
LEGERE: I THINK MASA JUST LIKES MAGENTA.
EISEN: I THINK WE'RE GOING HEAR FROM HIM.
QUINTANILLA: HEY JOHN, WE ARE GOING TO TALK TO CLAURE IN THE NEXT HOUR. WAPNER JUST TOLD YOU WHAT HE SAID. HONEST QUESTION HERE. DO YOU GUYS, IS PART OF THIS FOR SHOW OR DO YOU HONESTLY DISLIKE EACH OTHER?
LEGERE: OH, I DON'T – LISTEN. EVERYTHING I DO, LEADING THE UN-CARRIER IS FOR MY CUSTOMERS AND FOR EMPLOYEES. IT'S JUST SMALL NOISE FROM AN AMATEUR TWITTER GUY THAT SHOULD STAY IN THE SHALLOW END OF THE POOL. HE SHOULDN'T PLAY WITH THE BIG BOYS. BUT I TAKE NOTHING PERSONALLY AND I MOVE FROM NO FIGHTS. SO BRING IT ON.
QUINTANILLA: JOHN, WE'RE GOING TO – MAN, I MEAN, WE'VE SEEN COMPETITIVE PRESSURES IN THIS INDUSTRY, BUT YOU GUYS TAKE IT TO A NEW LEVEL. WE APPRECIATE YOU COMING ON. WE LOOK FORWARD TO DIGGING INTO THE DETAILS OF THIS NEW PLAN. JOHN LEGERE, OF COURSE, T-MOBILE JOINING US THIS MORNING. THANKS, JOHN.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 386 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms including: CNBC.com; CNBC PRO, the premium, integrated desktop/mobile service that provides live access to CNBC programming, exclusive video content and global market data and analysis; a suite of CNBC mobile products including the CNBC Apps for iOS, Android and Windows devices; and additional products such as the CNBC App for the Apple Watch and Apple TV.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc.
For more information about NBCUniversal, please visit http://www.NBCUniversal.com.