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Sprint, T-Mobile Soar After Court Approves Merger

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The court has officially approved the T-Mobile Sprint merger.

This approval comes 2 years after the deal was first announced. The deal, in case you need a refresher, is a $26 billion all-stock merger.

The merger plans have divided both lawmakers and attorneys since April 2018, when it was announced.

The deal will reduce the number of national wireless carriers from four to three, which meant that there could possibly be consumer price increases,

The two companies have said that they plan to increase 5G spending and investments in rural telecoms infrastructure.

The promise led Federal Communications Commission Chairman Ajit Pai to approve the merger, and recommend it to his colleagues last year.

The DoJ approved the deal in July, however, after both Sprint and T-Mobile agreed to sell $5 billion in prepaid wireless and spectrum assets to Dish Network Corp.

This will create a new, fourth competitor. The Dish wireless network will have around 9 million subscribers.

As the news broke, T-Mobile was up nearly 10% and Sprint was soaring over 70%.

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