NEW YORK - T-Mobile US Inc’s edged closer to a takeover of Sprint Corp after a federal judge on Tuesday approved the deal, rejecting a claim by a group of states that said the proposed transaction would violate antitrust laws and raise prices.
“The merger of T-Mobile and Sprint will create another telecommunications behemoth in an already dangerously consolidated market,” U.S. Senator Richard Blumenthal, a member of the Senate Judiciary Committee, wrote on Tuesday.The decision by U.S. District Court Judge Victor Marrero clears the path for the deal, which already has federal approval and was originally valued at $26 billion.
“The court concludes that the proposed merger is not reasonably likely to substantially lessen competition,” Judge Marrero wrote, adding that he was confident in DISH’s ability to transform into a “disruptive maverick” in the wireless industry. Rani Habash, a partner at the law firm Dechert LLP who specializes in antitrust, said the states would have difficulty winning an appeal. The judge “found the Sprint and T-Mobile side to be more credible for their prediction of the future,” he said. “When you have a factual determination, that’s very hard to overcome.”
Bully!
well, phone plans will now be 200 to 250 a month. 100 for phone ervice and 100 for internet. As usual we get screwed
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