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Germany: Deutsche Telekom sets meeting as T-Mobile, Sprint deal nears

By  |  July 24, 2019

Deutsche Telekom has called a leadership meeting on Wednesday, July 24, in expectation of US regulatory approval of the proposed merger of its US T-Mobile unit with rival Sprint, according to Reuters.

A meeting to update Deutsche Telekom’s supervisory board on US strategy was scheduled for 10:15 am, Handelsblatt reported.

It cited unnamed sources as saying that officials at the US Department of Justice (DOJ) were expected to give the nod to the US$26 billion deal after months of negotiations to address antitrust concerns arising from the deal.

T-Mobile, in which Deutsche Telekom owns a 63% stake, and Sprint, controlled by Japan’s Softbank, have offered a series of concessions, including divesting T-Mobile’s Boost prepaid brand and a slab of spectrum to alleviate DOJ concerns on market dominance.

Full Content: Reuters

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