Sprint, T-Mobile Jump As FCC Signals Merger Approval

Fight Censorship, Share This Post!

Sprint shares are up over 25% and T-Mobile up around 5% in the pre-market after the U.S. Federal Communications Commission chairman said he will recommend approval of T-Mobile US’s proposed takeover of Sprint, a key step for the deal’s completion.

“In light of the significant commitments made by T-Mobile and Sprint as well as the facts in the record to date, I believe that this transaction is in the public interest and intend to recommend to my colleagues that the FCC approve it,” FCC Chairman Ajit Pai says in statement.

Bloomberg reports that the companies made commitments including asset sales and rural-service guarantees.

The promises include the sale of one of their prepaid brands, a three-year buildout of their 5G network, and a reiterated pledge not to raise prices while the network is being constructed. The new pledges follow talks with the FCC.

“Two of the FCC’s top priorities are closing the digital divide in rural America and advancing United States leadership in 5G, the next generation of wireless connectivity,” Pai said in a statement Monday.

“The commitments made today by T-Mobile and Sprint would substantially advance each of these critical objectives.”

A separate antitrust review by the Justice Department is still underway.

This post has been republished with implied permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

Fight Censorship, Share This Post!

Read the original article.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.