Justice Department Leaning Against Merger of Sprint and T-Mobile
Apr 16, 2019, 5:06 PM by Rich Brome @richbrome
Justice department staff reviewing the proposed merger between T-Mobile US and Sprint have informed the two companies that they're disinclined to approve the merger as currently proposed, on antitrust grounds, according to the Wall Street Journal. The $26 billion deal would reduce competition and likely lead to lost jobs in the long run, although T-Mobile and Sprint claim otherwise. T-Mobile and Sprint could propose alterations to the deal to win approval. Also, senior Justice Department officials could override the staff recommendation and approve the deal as-is, although several state attorneys general are preparing to sue on antitrust grounds if that happens. A final decision from the Justice Department is expected in a few weeks, and T-Mobile and Sprint are still aiming to wrap up the deal by the end of July.
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