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US telecoms regulator chair backs T-Mobile, Sprint merger

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Parties will require changes to proposed $26bn merger

David Shepardson and Diane Bartz

Federal Communications Commission chair Ajit Pai said on Monday he will recommend that the other four commissioners vote to approve the merger. A second member of the five-person FCC, commissioner Brendan Carr, a Republican, also said he will vote to approve the deal.Sprint shares jumped 25.1% to $7.73 while T-Mobile was up 6% to $79.93.

Altice USA, the fourth largest cable company, has urged the FCC to reject the deal because it was concerned the combined company could prevent it from offering phone service.

 

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