Sprint And T-Mobile Get DOJ Blessing For $26B Merger; Dish Scoops Up Key Assets

, will be a larger rival to AT&T and Verizon, though regulators pushed for the divestiture of assets with an eye toward preserving competition. Dish had already been accumulating spectrum and stating plans to build a wireless network, though some analysts and policy experts have wondered if it will become a legitimate No. 4 contender anytime soon.

T-Mobile CEO John Legere called the outcome with the DOJ a “win-win for everyone involved.” The original merger plan announced last April, he said, promised $43 billion in synergies. “We are pleased that our previously announced target synergies, profitability and long-term cash generation have not changed,” he said in a statement. “Today marks an incredibly important step forward for the New T-Mobile.

Sprint Executive Chairman Marcelo Claure called it “an important day for our country and, most important, American consumers and businesses.” Ajit Pai, chairman of the Federal Communications Commission, released a statement in praise of the settlement. “The commitments made to the FCC by T-Mobile and Sprint to deploy a 5G network that would cover 99% of the American people, along with the measures outlined in the [DOJ] consent decree, will advance U.S. leadership in 5G and protect competition,” Pai said. The chairman added that he will circulate a draft order advocating for FCC approval of the deal.

On Wednesday’s AT&T’s conference call with Wall Street analysts to discuss the company’s second-quarter results, CEO Randall Stephenson was asked about the Sprint-T-Mobile deal as well as the entry of a new player led by Dish chairman Charlie Ergen. He said he wondered “what level of comfort [state attorneys general] take that the antitrust concerns and fix is Charlie Ergen coming into the wireless business that’s been decades in the making.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Justice Department in Talks With States to Win Support for T-Mobile, Sprint MergerThe Justice Department is pushing state officials to support a planned settlement that would allow T-Mobile US and Sprint to merge by selling assets to Dish Network. This to me seems like something the DOJ isn’t supposed to be used for 🤷🏾‍♂️ CGasparino budswdrbobbillw The DOJ should not be negotiating on behalf of Corporations, this is wrong. They should not merge. No more monopolies.
Source: WSJ - 🏆 98. / 63 Read more »

T-Mobile-Sprint drama overshadows ‘industry’s best growth story,’ says analystT-Mobile US Inc.’s latest earnings show that the company is doing just fine on its own — even as the company’s deal for Sprint Corp. reportedly nears...
Source: MarketWatch - 🏆 3. / 97 Read more »

DOJ approves $26.5B merger between Sprint and T-MobileWhile the merger between the number three and four players in the wireless market effectively reduces competition, the DOJ has demanded that both companies must sell key assets. claireatki Exactly as slickenteur predicted many days ago. Guys you should follow her, she does brilliant market, political analysis. Her articles and threads are amazing. Must read them. claireatki Well, I hope they can cut my bill in half. Lololol 😄 claireatki So what will sprint customers need to do?
Source: NBCNews - 🏆 10. / 86 Read more »