Tuesday, December 18, 2018

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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