As we posted yesterday, the Sprint merger lawsuit has been decided. Judge Marrero ruled the transaction “is not reasonably likely to substantially lessen competition”.
The group of Attorneys General promised to continue exploring options to prevent a merger of T-Mobile with Sprint, after the carriers won the legal challenge to the proposed $26 billion deal.
The judge stated the deal would “allow the merged company to continue T-Mobile’s undeniably successful business strategy for the foreseeable future”. He also noted he was not convinced “Sprint possesses the financial and operational means to survive in the near term as a national wireless carrier” without the merger.
T-Mobile’s Mike Sievert – in a statement – hailed the decision as a “big win”. The deal could be closed as early as April 1st, adding the companies were now “laser-focused on finishing the few open items that remain, but our eye is on the prize”.
However, New York AG James, indicated the attorney generals could still seek ways to block the deal, with an appeal of the court ruling one possibility. James declared the ruling “a loss for every American”, insisting “there is no doubt that reducing the mobile market from four to three will be bad for consumers, bad for workers, and bad for innovation”.
T-Mobile and Sprint must still secure approval from the California Public Utilities Commission, the last of 19 state-level regulators not to have a say on the merger.
Read the entire article here
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