T-Mobile and Sprint Merger Is Inching Towards Completion, Wins US Security Approvals
T-Mobile US and Sprint have won backing for their $26 billion merger from the Committee on Foreign Investment (CFIUS) in the U.S. as well as
the Justice Department, Department of Homeland Security, and Defense
Department.
These approvals comes after, the firms' respective foreign owners, Deutsche Telekom and Japan's SoftBank, had offered to stop using Huawei Technologies equipment. Sources close to the deal mentioned that U.S. officials had
pressured Deutsche Telekom to stop using Huawei gear, and the companies
believed they had to comply to win approval from CFIUS, headed by the
Treasury Department.
The U.S. wireless carriers still need to win antitrust approval from the Justice Department and the FCC, next.
"We are pleased to achieve both of these important milestones in the journey to build the New T-Mobile. "These approvals assure the strong partnership both companies have with
the U.S. government will continue with the New T-Mobile. We look forward
to continuing our discussions with the remaining regulatory agencies
reviewing our transaction." T-Mobile CEO John Legere said in a statement.
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