• Home
  • News
  • T-Mobile and Sprint Extend $26 Billion Merger Deadline to July 29

T-Mobile and Sprint Extend $26 Billion Merger Deadline to July 29

T-Mobile and Sprint Extend $26 Billion Merger Deadline to July 29

T-Mobile and Sprint on Monday extended the deadline for their proposed $26 billion merger, allowing more time for Department of Justice and Federal Communications Commission approval of the deal.

The companies revealed the extension in a filing with the Securities and Exchange Commission, reports Reuters. The new deadline is July 29.

The two wireless carriers’ original merger proposal was announced a year ago Monday, and set a one-year deadline for an agreement and clearing regulatory review. Yesterday’s extension give things an extra three months to work out.

The deadline was likely extended due to government officials still being in talks with the two companies and are continuing to request information as they work to reach a decision.

Makan Delrahim, head of the DOJ’s antitrust division, told CNBC¬†that meetings are ongoing.

“I have not made up my mind,” Delrahim said. “The investigation continues. We’ve requested some data from the companies that will be forthcoming. We don’t have a set number of meetings or a timeline.”

The T-Mobile and Sprint proposal would merge the number three and number four U.S. wireless carriers, creating a single entity that would better be able to compete against Verizon and AT&T.

Earlier this month it was reported that the merger was unlikely to receive approval from the DoJ and state attorneys as it is currently structured. T-Mobile CEO John Legere termed the story “untrue.”

  1. 552259 348116Wow, incredible weblog structure! How lengthy have you ever been blogging for? you created running a weblog appear effortless. The full look of your internet site is great, nicely the content material! 466791

  2. 292828 584592Why didnt I take into consideration this? I hear exactly what youre saying and Im so happy that I came across your blog. You truly know what youre talking about, and you made me feel like I need to learn much more about this. Thanks for this; Im officially a huge fan of your blog 453574

  3. diyalaU says:

    897449 650534I always was concerned in this subject and stock still am, regards for posting . 880511

  4. 64204 372225I like what you guys are up too. Such smart function and reporting! Carry on the superb works guys I?ve incorporated you guys to my blogroll. I feel it will improve the value of my internet website 417711

Leave a Reply

Your email address will not be published.