New York gives nod for the $26 billion T-Mobile and Sprint merger

Date: 2020-02-19   Author: Saipriya Iyer  Category: #news

New York gives nod for the $26 billion T-Mobile and Sprint merger

Manhattan’s federal judge has given a green signal to both the firms, allowing them to move forward with this merger.

After a yearlong battle against the T-Mobile and Sprint merger, New York’s Attorney General, Letitia James has finally stepped back from court challenge for the $26 billion merger. Evidently, James was one of the 13 attorney generals who was against the merger between the fourth and third largest US wireless carriers. It was alleged that the merger would drive up consumer prices.

However, Manhattan’s federal judge recently gave a green signal to both the firms, allowing them to move forward with their agreement. Whereas, regulators of other states like Connecticut, Massachusetts, and California are still in the reviewing process.

Reportedly, the regulators’ lawsuit to restrict this merger has become a major obstacle for both companies. In its clarification, T-Mobile claimed that this deal would allow it to better compete against its competitor AT&T and Verizon. Additionally, the Federal Communications Commission and the US Department of Justice had approved the merger back in 2019.

When asked about the issues of this merger in last week’s court ruling, James revealed that since the beginning, this deal has been centered around massive corporate profits, and regardless of the firm’s false claims, this agreement would trouble the pockets of wireless subscribers.

However, in a recent statement James said that after a comprehensive review, New York has settled to drop its appeal as T-Mobile assures the party to create jobs in Rochester and participate in various robust national diversity programs that are geared towards connecting its communities with technology and good jobs.

Meanwhile, the federal court, after a lengthy trial, had ruled in favor of Sprint and T-Mobile, allowing them to go ahead with the merge, but with a condition to position Dish Network as the fourth national wireless carrier in the future.

Source Credit: https://nypost.com/2020/02/17/new-york-drops-out-of-suit-to-block-t-mobile-sprint-merger/



About Author


Saipriya Iyer linkdin-boxtwitter

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

Post Recommendents

India-based Kaizen AI set to influence the $1.36 trillion GCC realty sector

Author: Pankaj Singh

Kaizen AI, a prominent technology firm that uses AI to revolutionize large-scale building projects, is entering the lucrative GCC real estate sector, where the value of planned and under-construction projects is projec...


Microsoft expands partnership with Oracle to Deliver Oracle Database Services

Author: Pankaj Singh

Microsoft Corp. and Oracle Corp. have reportedly announced the availability of Oracle Database@Azure, which provides direct access to the Oracle database services operating on Oracle Cloud Infrastructure ...


Reliance Industries and NVIDIA join hands to advance AI in India

Author: Pankaj Singh

Indian billionaire Mukesh Ambani-owned Reliance Industries Ltd. has reportedly announced a partnership with U.S.-based chipmaker NVIDIA for advancing AI in India.

Apparently, Indi...