Just Announced: T-Mobile and Sprint Are Approved to Merge

SoftBank stock surges to seven-month high after judge OKs Sprint-T-Mobile merger

T-Mobile and Sprint had been the most aggressive USA wireless companies in terms of price competition in recent years, forcing AT&T and Verizon to follow moves like ending service contracts and adopting unlimited data plans.

T-Mobile and Sprint's merger plans are one big step closer to completion after a federal judge ruled in favor of the merger.

T-Mobile and Sprint had been the most aggressive USA wireless companies in terms of price competition in recent years, forcing AT&T and Verizon to follow moves like ending service contracts and adopting unlimited data plans.

Marrero's ruling is a stunning setback for New York Attorney General Letitia James and her California counterpart, Xavier Becerra, who led the litigation for states representing more than 40% of the US population.

New York's attorney general said the state is considering an appeal; California's attorney general said that state is "prepared to fight".

This is a developing story.

The deal already got the nod from both the Justice Department and the FCC, thanks to an unusual commitment to create a new wireless player in the satellite TV company Dish.

Shares of Sprint were up 50 per cent at US$7.20 in after market trading, while T-Mobile rose 6.5 per cent. The US Federal Communications Commission gave the deal a green light in November 2019.

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Sprint and T-Mobile said in a statement that they would move to finalise the merger, which is still subject to closing conditions and possible additional court proceedings.

T-Mobile - which had to sell assets to Dish, including Boost Mobile, to win DOJ approval - had demanded Dish only be allowed to sell a 5 percent stake to any new partners, sources said.

Despite the NY court ruling, the coalition 14 state attorneys general maintains that reducing the number of national wireless carriers from four to three will hurt consumers by reducing competition. But California's Public Utilities Commission still has to approve the deal, too.

You'd be forgiven if you forgot the details of the T-Mobile-Sprint deal.

T-Mobile, based in Bellevue, Washington, is owned by the German telecommunications company Deutsche Telekom. After the FCC approved the deal, the all-Democratic group of attorneys general filed suit. And while there have been "not hostile" discussions of several issues, including price, T-Mobile has suggested there could be new terms.

T-Mobile says the merger will help bring about America's first nationwide 5G network, with speeds five times faster than they now are.

As for what happens after those three years - or what happens if the New T-Mobile doesn't keep its word - we'll just have to wait and see.

T-Mobile CEO John Legere: "We've said it all along: the New T-Mobile will be a supercharged Un-carrier that is great for consumers and great for competition". He'll be succeed by chief operating officer Mike Sievert, which should mean less curse words during T-Mobile's product announcements.

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