The Federal Communications Commission may have voted to approve a merger between T-Mobile and Sprint, and the Justice Department also appears on board, but the telecommunication leviathans still must persuade a coalition of state attorneys general.
The states' lawsuit to block the merger was filed June 11 in the U.S. District Court for the Southern District of New York, according to the New York attorney general's office. A court date is set for Dec. 9. "Overwhelming evidence," she added,"demonstrates that the T-Mobile-Sprint merger will reduce competition, raise prices, lower quality, and slow innovation.""With 5G on the horizon, our dependence on wireless connectivity is bound to grow," she said."It's not the time to count on ineffective deployment commitments, higher prices and less vigorous competition to help the benefit of this new technology reach us all.
Starks said that the deal approved Wednesday"has changed significantly from the one that was originally proposed -- twice," noting that not enough time for public comment was allotted to address these changes.
I will be there in spirit!
The FCC does what Trump tells them what to do. They will always make decisions when it comes to large corporations becoming larger. It's the greed factor.
Lol
For an economic system supposedly based on robust competition, there sure are a lot of corporate mergers...
Didn't they bust up this two several years back...whats going on here...will my monthly bill be lower ?
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Source: CNBC - 🏆 12. / 72 Read more »