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US Justice Department approves US$26 billion Sprint, T-Mobile merger

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WASHINGTON: The US Justice Department said on Friday it is approving T-Mobile US Inc's US$26 billion takeover of rival Sprint Corp, clearing a ...

WASHINGTON: The US Justice Department said on Friday it is approving T-Mobile US Inc's US$26 billion takeover of rival Sprint Corp, clearing a major hurdle to a deal that would merge the nation's third and fourth largest wireless carriers.

T-Mobile Chief Executive Officer John Legere, who will be the CEO of the combined company, said it would deliver a 5G network with lower prices, better quality and thousands of jobs, while unlocking US$43 billion in synergies. On Friday, the Justice Department and five state attorneys general said they were filing suit to enforce the settlement conditions that also include selling Virgin Mobile and Sprint prepaid and providing Dish with access to 20,000 cell sites and hundreds of retail locations.Dish has agreed to acquire spectrum in a deal valued at US$3.6 billion from the merged firm and pay US$1.4 billion for Sprint's prepaid business that serves about 9.3 million customers.

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