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The Justice Department on Friday approved the merger of T-Mobile and Sprint, the third- and fourth-largest wireless companies in the United States, saying its antitrust concerns had been addressed and giving its blessing to a deal that would reshape the nation's wireless industry.
Share All sharing options for: T-Mobile and Sprint merger approved by Justice Department. The United States Justice Department has approved the $26 billion merger deal between T-Mobile and Sprint.
The United States Justice Department has approved the $26 billion merger deal between T-Mobile and Sprint. ... T-Mobile and Sprint announced their intention to merge last April, claiming that their combined assets would make them a more viable competitor to AT&T and Verizon.
The merger between Sprint Corp. S, -2.26% and T-Mobile US Inc. THUS, -0.07% has hit another roadblock and, for their customers, that's certainly something to phone home about. Sprint and T-Mobile announced last year that the two companies' boards had approved a $26-billion, all-stock merger.
T-Mobile, majority owned by Deutsche Telekom AG (Ten.DE), agreed in April to buy wireless carrier Sprint and the deal was initially expected to close in the first half of 2019. The Federal Communications Commission (FCC) and the Department of Justice are currently scrutinizing the deal.
If all goes perfectly, Sprint and T-Mobile customers will gain access to a broader network on a par with the AT&T and Verizon networks in coverage and speed. ... T-Mobile will now have to take on millions more customers coming from Sprint.
T-Mobile (THUS) and Sprint (S) have been trying to merge for years to compete with larger wireless carriers like AT&T (T). On May 20, T-Mobile issued a set of six commitments related to its proposed merger with Sprint.
History of the T-Mobile and Sprint merger In April 2018, T-Mobile and Sprint agreed to merge in an all-stock deal, which valued the latter at ~$26.5 billion.
The United States Justice Department has approved the $26 billion merger deal between T-Mobile and Sprint. After over a year in regulatory limbo, the merger received the green light from the last federal agency to hold out, with the Federal Communications Commission already signaling that it will approve the deal.
T-Mobile and Sprint announced their $26 billion merger over a year ago, and the Journal reports that it will once again push past another deadline, July 29th, before closing the deal.
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