The Justice Department might kill T-Mobile and Sprint’s merger despite likely FCC approval
T-Mobile and Sprint started the day with very good news when FCC chairman Ajit Pai said he would urge the commission to approve their industry-transforming merger. Stocks of both companies soared soon after. But only a few hours later, Bloomberg is reporting that the US Department of Justice is leaning toward blocking the merger over antitrust concerns. This isn’t the first time we’ve heard that the Justice Department remains unconvinced that a combined T-Mobile and Sprint would be a positive development for consumers.
Citing a person familiar with the DoJ’s ongoing merger review, Bloomberg says that “the remedies proposed by the companies don’t go far enough to resolve antitrust concerns.” T-Mobile and Sprint agreed to several...