T-Mobile and Sprint to proceed with $26 billion merger

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A U.S. federal court on Tuesday ruled in favor of T-Mobile to acquire Sprint in a business that would further concentrate ownership of telecommunications in the United States and create a new market leader.

This brings together nation’s third and fourth largest wireless carrier , creating a new giant that will surpass rivals AT&T and Verizon. Incoming T-Mobile CEO Mike Sievert said that:”This is a BIG win & a BIG day for #NewTMobile! Now we can get to work finishing what we set out to do–bring a new standard for value, speed, coverage, quality & customer service to U.S. consumers everywhere & TRULY changing wireless for good.”

 

The 173 page decision, made by The United States Southern District of NY Judge Victor Marrero, comes after a special lawsuit filed in June by state attorneys from 13 states and the District of Columbia. The ruling came after regulators at the Justice Department and the Federal Communications Commission gave their blessing to get the job done.

FCC Chair Ajit Pai, whose commission approved the deal last year, welcomed the judge’s approval.

 

Two companies had claimed their merger would help them compete against biggest players AT&T and Verizon and advance efforts to build a nationwide 5G network. At the NewTMobile.com statement they say that they:”… can change this failed status quo and lead in the 5G era. We can build the 5G network that America deserves and unleash Americans to do what we do best: create a brighter future for everyone.”

“Judge Marrero’s decision validates our view that this merger is in the best interests of the U.S. economy and American consumers,” said Sprint Executive Chairman Marcelo Claure.

But not everyone is happy about the merger, some of the reactions from Twitter folks.

 

 

 

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