T-Mobile US has agreed to pay roughly $60 million to settle claims it failed to promptly report incidents of unauthorized data access in violation of a national security agreement that allowed its merger with rival Sprint.
The penalty, announced by the Committee on Foreign Investment (CFIUS), is the largest fine to date imposed by the U.S. regulatory panel that reviews deals for national security risks. It is also the first enforcement action taken by CFIUS that publicly named the targeted company.
T-Mobile entered into a national security agreement with CFIUS in 2018 after it won approval from the panel for its planned takeover of Sprint because of foreign ownership of the entities. Japanese based SoftBank Group owned most of Sprint, while Germany’s Deutsche Telekom was a majority shareholder of T-Mobile in the U.S.
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