T-Mobile’s proposed $26 billion merger with Sprint is facing a roadblock from the U.S. Department of Justice, according to a new report from the Wall Street Journal.
Justice Department officials warned the companies that their merger isn’t likely to receive approval under the current proposal, anonymous sources told the Journal.
The wireless carriers need sign-off from DOJ and the Federal Communications Commission to complete the merger. T-Mobile and Sprint claim that merging will increase competition with their larger rivals AT&T and Verizon. Their entreaty to regulators also claims that merging will increase American competitiveness in the next generation of wireless technology known as 5G.
In April 2018, T-Mobile and Sprint agreed to merge and create a $146 billion company under the T-Mobile name. The companies plan to complete the merger this year if they receive regulatory approval.
Full Content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI