FCC stopped the review clock on Sprint, T-Mobile merger

FCC stopped the review clock on Sprint, T-Mobile merger

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The U.S. Federal Telecommunication Commission has decided to halt the informal 180-day “shot-lock” for reviewing the merger deal between wireless providers T-Mobile US Inc and Sprint Corp as it wants to give the public three more weeks to comment on the merger, announced the federal agency on last Thursday.

The decision came after submission of important additional information by both companies regarding their 2019-2021 plans to integrate the current networks and other new information about their merger deal worth $26 billion.

The FCC said that it usually allows additional time for public to add more input after submission of any new information of significant nature by the applicants and added that the current halted review period will be resumed at the current Day 122 on April 4.

Sprint and T-Mobile in their statements encouraged the FCC for deeply engaging in understanding the merger deal and their recent filing and agreed with its decision to stop the clock to fully review the merit of their merger and also called the decision “a positive step.”

Sprint said that it is hoping the regulatory approval process to be completed by the end of June.

In April 2018 the third- and fourth-largest U.S. wireless carriers struck the tie-up deal which was approved by the shareholders of both the companies in October. Later on the merger deal succeeded to get national security clearance but at moment is waiting to be approved by the FCC and Department of Justice, while it is also under review of number of state attorneys general.

House Democrats, at a congressional hearing last month, showed their concern about the deal as the two merging companies are among the four main carriers in the U.S. wireless market and after merger the market will left with only three major carriers.

CEO of both companies is to testify at another U.S. House hearing on March 12.

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Brayden Fortin is a American with numerous years of investment experience in the American Equity Market and in the Global Commodity Market. He has a B.Com degree from a well respected Canadian university and has experience working in the wealth management industry. He is interested in delving into numbers to analyze companies and markets. He won a couple of international strategy simulation competitions involving decision making through numerical analysis, and also scored in the top 50 on the Bloomberg Aptitude Test (out of nearly 200,000 test takers).

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