US: Sprint and T-Mobile extend merger deadline to July 29

Sprint and T-Mobile have announced an agreement to extend the deadline for their proposed US$26 billion merger deal to July 29, reported Reuters.

The extension was revealed in a filing with the Securities and Exchange Commission, and means that the two carriers now have more time to get the proposed merger approved by both the Federal Communications Commission and the US Department of Justice.

The Justice Department’s Antitrust Division has been exploring whether the deal would result in a major threat to competition. Earlier this month, Justice Department staff members reportedly told Sprint and T-Mobile that their planned merger is unlikely to be approved as it is currently structured.

However, in an interview on CNBC, Justice Department Antitrust Division chief Makan Delrahim said he had not made a decision regarding the T-Mobile and Sprint merger and is waiting for more information from the two companies.

“I have not made up my mind,” he told CNBC. “The investigation continues. We’ve requested some data from the companies that will be forthcoming. We don’t have a set number of meetings or a time-line.”

“If the case is there for us to challenge a transaction or suggest changes, we will do that,” he said. The Division is reviewing the argument that the deal would allow the combined company to produce a better, faster 5G, the next generation of wireless, he added.