New York Attorney General Letitia James said the deal is ‘bad for consumers, it’s bad for innovation and it’s bad for workers.’ Photo: mike segar/Reuters By Elizabeth Winkler June 12, 2019 6:00 a.m. ET T-Mobile ’s TMUS -1.58% and Sprint ’s S -5.87% plans to combine in a $26 billion deal seemed to be swimming along smoothly, especially after the merger received backing from the Federal Communications Commission’s chairman last month.
The Justice Department still has to weigh in, however, and prospects for the deal worsened on Tuesday, as a group of 10 state attorneys general filed a lawsuit to block it. The suit, which is led by California and New York, alleges that the union of the third- and fourth-largest wireless carriers in the U.S. would drive up prices for cellphone services and also result in lost jobs and stifled innovation. “The deal is bad for consumers, it’s bad for innovation and it’s bad for workers,” said New York Attorney General Letitia James.Investors are right to be concerned.
If the Justice Department decides not to sue, the states can still try to block the deal. They may force concessions or seek damages. Regardless of what the federal government decides, in other words, T-Mobile and Sprint are going to have further obstacles ahead.Write to Elizabeth Winkler at elizabeth.winkler@wsj.com
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US state AGs reportedly prepare lawsuit to stop Sprint and T-Mobile mergerA group of at least 10 state attorneys general are preparing on Tuesday to file a lawsuit to stop the $26 billion merger of Sprint and T-Mobile, a deal that would reduce the number of nationwide wireless carriers from four to three, according to three sources familiar with the matter. they both look like actors Very short sighted at the State AG level.
Source: CNBC - 🏆 12. / 72 Read more »
Exclusive: U.S. state AGs prepare lawsuit to stop Sprint and T-Mobile mergerA group of at least 10 state attorneys general are preparing on Tuesday to file ... won't be able to 垄断催生垄断 Remember how they bribed Trump through his hotel?
Source: Reuters - 🏆 2. / 97 Read more »
Ten States Seek to Block T-Mobile, Sprint MergerA group of 10 state attorneys general plan to sue T-Mobile and Sprint to block their merger, according to people familiar with the matter, adding another complication to an already unusual antitrust review. Good. Mega corporations are not good for the consumer. Good. Having been an employee of both companies in the past, and a customer of TMo for almost a decade...I do not want them to merge. I worked for Sprint during their NexTel merge...they sucked before AND after.
Source: WSJ - 🏆 98. / 63 Read more »
States Sue To Block Sprint T-Mobile Merger, Putting Deal In Jeopardy
Source: Forbes - 🏆 394. / 53 Read more »
State attorney generals prepare lawsuit to stop Sprint and T-Mobile mergerA group of at least 10 state attorneys general are preparing on Tuesday to file a lawsuit to stop the $26 billion merger of Sprint and T-Mobile, a deal that would reduce the number of nationwide wireless carriers from four to three, according to three sources familiar with the matter.
Source: CNBC - 🏆 12. / 72 Read more »