Sprint, T-Mobile Said to Close In on $26.5 Billion Combination

ronjor · Aug 12, 2019

Oregon joins states' lawsuit to block T-Mobile, Sprint merger

Sheila Dang August 12, 2019
Fifteen states and the District of Columbia are now seeking to stop the merger, which the states argue is anticompetitive and will cost their residents more than $4.5 billion annually. The lawsuit most recently added Texas, whose attorney general is the first Republican to join the effort.
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zapjb · Aug 12, 2019

I'm pacing myself it's been 5 weeks since I said it ain't happening.

It still ain't happening.

ronjor · Aug 14, 2019

Ajit Pai formally recommends T-Mobile/Sprint merger approval

Brian Heater@bheater
Ajit Pai has long signaled that he would approve a T-Mobile/Sprint merger, but today the FCC Chairman made it official. In spite of widespread opposition suggesting that the combining of the country’s third and fourth largest carriers would reduce competition in the marketplace, Pai takes the stance that such a move would actual promote competition.
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guest · Aug 16, 2019

Democrats plead with Pai to delay T-Mobile-Sprint vote
‘The time has come for Commissioners to vote’
August 16, 2019
https://www.theverge.com/2019/8/16/...titia-james-nyag-merge-fcc-doj-ajit-pai-delay

On Thursday, the Federal Communications Commission announced that it would be charging ahead with a vote to formally approve the T-Mobile-Sprint merger; but Democratic senators are calling on the agency to reopen the issue for public comment before taking that vote.

[...] asking the FCC to receive feedback from citizens and advocates on the $26 billion telecom merger one last time before approving it, citing concerns that the deal will only entrench telecom monopolies.

“We have major antitrust concerns regarding the impact of the proposed T-Mobile/Sprint merger on consumers, competition, and the public interest,” the senators wrote.
“The time has come for Commissioners to vote and for this proceeding to be brought to a close,” the spokesperson continued.
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Klobuchar, Colleagues Urge FCC to Seek Additional Public Input on T-Mobile/Sprint Merger

guest · Aug 17, 2019

T-Mobile-Sprint merger: How to decide if you should switch
August 17, 2019
https://www.cnet.com/how-to/t-mobile-sprint-merger-how-to-decide-if-you-should-switch/

And another one's gone. With the Justice Department signing off on T-Mobile's $26.5 billion acquisition of Sprint in July, and with the Federal Communications Commission set to vote on the merger soon, the number of nationwide wireless mobile carriers will drop to three, for the moment.
With the merger moving ahead, you might wonder if now is the time to switch to T-Mobile. Joined together, the newly formed company has the potential to be much more than Sprint and the scrappy underdog T-Mobile were before. [...]
Should you switch now?
With the merger, T-Mobile promises a network that'll provide nationwide service at predictable price: As part of the deal, T-Mobile has agreed to hold its prices steady for three years. With its broad coverage, promise of keeping prices steady and strength in 5G, the new T-Mobile is shouldering its way up.

it's better to wait, keeping one eye on deals and incentives and another on the states' suit to see what happens before you switch.
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ronjor · Aug 27, 2019

DOJ’s plan to make Dish the fourth major carrier has a fatal flaw

Jon Brodkin - 8/27/2019
Dish replacing Sprint as fourth carrier could leave 100 million people uncovered.
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ronjor · Sep 3, 2019

Illinois joins lawsuit to stop T-Mobile, Sprint merger

September 3, 2019
Illinois joins 15 other states and the District of Columbia in seeking to stop the $26 billion merger, which the states argue will lead to higher costs for consumers.
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ronjor · Sep 4, 2019

T-Mobile US workers worry Sprint deal will mean job losses

September 4, 2019
WASHINGTON (Reuters) - T-Mobile US retail employees and technicians delivered a letter late Tuesday for Deutsche Telekom CEO Tim Hoettges, seeking assurances that their jobs and paychecks will be safe if the wireless carrier is allowed to merge with Sprint, its smaller rival.
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guest · Sep 18, 2019

T-Mobile’s Sprint merger is opposed by 18 state attorneys general
Pennsylvania’s AG is the latest to join an effort to block the merger
September 18, 2019
https://www.engadget.com/2019/09/18/t-mobile-sprint-pennsylvania/

Pennsylvania Attorney General Josh Shapiro is the latest state attorney general to oppose T-Mobile's Sprint merger. Today, Shapiro announced that he'll join a lawsuit to block the "megamerger" of the telecom giants, making him the 18th attorney general to challenge the deal.

The state attorneys general fear the merger would hurt competition, raise prices for cell service, result in a loss of retail jobs and lower wages for the employees who remain.

"The merger between T-Mobile and Sprint would severely undermine competition in the telecommunications sector, which would hurt Pennsylvanian consumers by driving up prices, limiting coverage, and diminishing quality," Shapiro said in a statement.
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zapjb · Sep 18, 2019

It's been 4.5 weeks since I said it ain't happening.

It ain't happening.

guest · Oct 2, 2019

Florida joins Justice Department settlement with Sprint, T-Mobile
October 2, 2019
https://www.reuters.com/article/us-...settlement-with-sprint-t-mobile-idUSKBN1WH29X

Florida has signed on to a consent agreement that the Justice Department reached with Sprint Corp and T-Mobile US Inc to allow the companies to merge, according to a court filing on Wednesday.
While Florida’s decision to join the government is a morale boost for the companies, it may have little practical effect since the two sides already settled.

A group of 17 states and the District of Columbia has filed a separate lawsuit to stop the $26 billion merger, arguing that it will lead to higher prices for consumers. A trial date has been set for Dec. 9.
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guest · Oct 10, 2019

The T-Mobile / Sprint merger should be stopped, say antitrust experts
Trying to turn Dish into a new wireless carrier ‘will surely doom it to failure’
October 10, 2019
https://www.theverge.com/2019/10/10...network-failure-stopped-antitrust-experts-doj

The blockbuster T-Mobile / Sprint merger was approved the Department of Justice in July, along with a complicated set of conditions aimed at turning Dish Network into a national wireless carrier.
Instead of blocking the merger and maintaining all four major wireless carriers, the government is essentially trying to manufacture a fourth carrier to replace Sprint, by requiring T-Mobile to run a new Dish Network-branded wireless service for seven years while Dish builds its own network that will eventually compete with T-Mobile. If Dish doesn’t build that network by 2023, it will have to pay a $2.2 billion fine.

If that sounds like a complicated scheme that doesn’t quite make sense, you’re not alone.
In a new filing, a group of seven economists and antitrust experts say the court should reject the DOJ’s proposed solution, calling it “doom[ed] ... to failure” and “a remedy that does not meet the standard of restoring the competition currently provided by Sprint.”
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guest · Oct 16, 2019

FCC approves merger of T-Mobile, Sprint on vote split on party lines
October 16, 2019
https://www.reuters.com/article/us-...nt-on-vote-split-on-party-lines-idUSKBN1WV2DA

T-Mobile US Inc’s proposed $26.5 billion tie-up with Sprint Corp won formal approval from the Federal Communications Commission on Wednesday in a vote split along party lines, two sources told Reuters.

Chairman Ajit Pai and two Republican commissioners voted to approve the deal while two Democratic commissioners voted against it, the sources said.
The text of the approval order is not expected to be released until later in the month.
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guest · Oct 21, 2019

Colorado abandons legal effort to stop Sprint, T-Mobile merger
October 21, 2019
https://www.reuters.com/article/us-...-to-stop-sprint-t-mobile-merger-idUSKBN1X01QC

Colorado became on Monday the second state to drop out of an effort by state attorneys general to stop T-Mobile US Inc’s (TMUS.O) $26 billion merger with Sprint Corp (S.N).

Colorado struck a deal with T-Mobile and Dish Network Corp (DISH.O), which is buying assets divested from the merger. In the deal, Dish pledged to bring 2,000 jobs to the state and T-Mobile pledged to deploy the next generation of wireless 5G across much of Colorado, the state attorney general’s office said in a statement.
Colorado is the second state to defect from the New York-led lawsuit to stop the merger. Mississippi said on Oct. 9 that it would withdraw from the legal challenge.

T-Mobile CEO John Legere tweeted that it was “great news” that Colorado was dropping off the lawsuit. “CO knows that New T-Mobile will create jobs and deliver 5G to rural areas of the state-and beyond!” he tweeted.
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Colorado leaves lawsuit challenging Sprint-T-Mobile merger after Dish promises wireless service HQ, 2,000 jobs

The Colorado Attorney General’s Office announced the deal on Monday morning. Dish has also promised that Colorado will be one of the first states to get 5G service — particularly in rural areas — as part of the agreement.
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guest · Nov 5, 2019

ronjor said: ↑

Sprint posts another loss as T-Mobile merger remains in limbo
The carrier continues to struggle as the pending T-Mobile merger hangs over the company.
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Sprint posts another quarterly loss as T-Mobile merger remains on hold
Sprint's troubles haven't ended as it awaits closure on its pending merger with T-Mobile
November 4, 2019
https://www.cnet.com/news/sprint-posts-another-quarterly-loss-as-t-mobile-merger-remains-on-hold/

Sprint's pending merger with T-Mobile has kept the company in a bit of a limbo state.

Sprint's fiscal second-quarter results didn't help much either, with the company on Monday posting a net loss of $274 million for the quarter.
Total revenue for the quarter came in at $7.8 billion, lower than the $8.17 billion analysts polled by Yahoo Finance estimated. The company lost 91,000 postpaid phone subscribers in the quarter.

In a call with investors and analysts following T-Mobile's earnings last week, T-Mobile CEO John Legere said that he now expects the deal to close in "early 2020," a timeline echoed by Combes. T-Mobile is working to reach a settlement with the attorneys general, and if none is reached, the suit is expected to head to trial on Dec. 9.
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zapjb · Nov 5, 2019

It's been 6 weeks since I said it ain't happening.

It ain't happening.

ronjor · Nov 5, 2019

FCC formally approves the T-Mobile-Sprint merger

Christine Fisher, @cfisherwrites 05 Nov 2019
The deal still faces a lawsuit filed by state attorneys general.
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hawki · Nov 7, 2019

"T-Mobile Offers More to Smooth Approval for Sprint Merger

T-Mobile US, still battling to convince state attorneys general to support its proposed acquisition of Sprint, unveiled measures on Thursday morning to make it more appealing.

The new commitments include promises to provide free 5G coverage to first responders, connect households with children with free internet, and introduce a new cheaper wireless plan..."

https://www.marketwatch.com/article...ttorney-general-51573147823?mod=mw_latestnews

guest · Nov 8, 2019

AT&T calls T-Mobile's first responder and education pledges 'marketing stunts'
November 7, 2019
https://www.cnet.com/news/at-t-call...onder-and-education-pledges-marketing-stunts/

T-Mobile took some shots at AT&T and Verizon on Thursday during its "new T-Mobile Un-carrier" event and now AT&T is firing back. In a statement provided to CNET, an AT&T spokesperson called out T-Mobile's newest pledges for first responders and education as a "marketing stunt."

"We have a deep and genuine commitment to connecting first responders and using technology to enrich education, not marketing stunts contingent on getting something approved," the AT&T spokesperson said. "If they believe it's critical to offer free access to these communities they would do it today, no conditions or questions asked."
In its announcement, T-Mobile made it clear that it needs the Sprint deal to offer the programs it announced.

"The communications needs of first responders are not a bargaining chip -- they are a critical lifesaving tool," the spokesperson said.
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zapjb · Nov 8, 2019

mood said: ↑

AT&T calls T-Mobile's first responder and education pledges 'marketing stunts'
November 7, 2019
https://www.cnet.com/news/at-t-call...onder-and-education-pledges-marketing-stunts/
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I agree with AT&T.

guest · Nov 14, 2019

T-Mobile announces a new Customer Experience Center for when its Sprint merger is approved
November 14, 2019
https://www.neowin.net/news/t-mobil...center-for-when-its-sprint-merger-is-approved

Today, T-Mobile announced the fourth out of five locations where it will be building a Customer Experience Center (CEC) for the New T-Mobile, the combined company that's formed after its merger with Sprint is complete. The facility will be built in Nassau County, Long Island, and it's the second of the four locations that's in New York state.

The Un-carrier said that the new "state-of-the-art" CEC will create up to 1,000 local jobs on Long Island, with "great wages and benefits", including healthcare, stock grants, college tuition assistance, childcare subsidy, paid parental leave, and adoption benefits.
T-Mobile also said that its plans for new and expanded CECs will not only create 5,600 new American jobs by 2021, but it will have 7,500 more customer care professionals by 2024 than the two standalone companies would have had. Naturally, this is all pending the merger between Sprint and T-Mobile.
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ronjor · Nov 18, 2019

John Legere to step down as T-Mobile CEO next year

Lauren Feiner@lauren_feiner Nov 18 2019
T-Mobile President and COO Mike Sievert will succeed John Legere as CEO on May 1, 2020, the company announced Monday.
CNBC’s David Faber reported in July that Sievert was expected to take over as CEO once T-Mobile’s $26 billion merger with Sprint closes.
Legere’s next move is still unknown. CNBC reported last week that WeWork had talked to Legere about a CEO position, but sources later said Legere will not take the job.
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guest · Nov 25, 2019

mood said: ↑

Texas joins other states' effort to block T-Mobile and Sprint merger
Attorney General Ken Paxton will play a key leadership role in the multi-state lawsuit
August 2, 2019
https://www.engadget.com/2019/08/02/texas-t-mobile-sprint-lawsuit/
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Texas drops lawsuit to block T-Mobile-Sprint merger
November 25, 2019
https://www.theverge.com/2019/11/25...ger-texas-attorney-general-ken-paxton-lawsuit

On Monday, Texas Attorney General Ken Paxton announced that his office would drop its lawsuit opposing the multibillion-dollar merger between telecommunications giants T-Mobile and Sprint.

Texas’ move is just the latest in a larger exodus of state attorneys general leaving behind a multistate lawsuit aimed at blocking the deal.
The case is set to go to trial on December 9th. New York and California are leading the move to block the merger, alleging that the combined company would raise prices and hurt consumers.
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AG Paxton Announces Settlement Agreement with T‑Mobile on Sprint Merger

guest · Nov 28, 2019

Justice Department Welcomes Texas Joining T-Mobile/Sprint Settlement
November 27, 2019
https://www.justice.gov/opa/pr/justice-department-welcomes-texas-joining-t-mobilesprint-settlement

Today, Texas is seeking to join the United States, Arkansas, Colorado, Florida, Kansas, Louisiana, Nebraska, Ohio, Oklahoma and South Dakota in the suit and proposed settlement relating to the proposed merger of T-Mobile and Sprint.

“We are pleased that Texas has joined other states in leaving the New York and California litigation and in deciding to join our settlement,” said Assistant Attorney General Makan Delrahim of the Justice Department’s Antitrust Division. “The merger, coupled with competition from DISH, will benefit Texans and American consumers nationwide.”
The Department’s Antitrust Division and now 10 co-plaintiff states have sued to block this transaction, and have agreed to settle the lawsuit based on the proposed settlement. That settlement, if approved by the court, would resolve the Justice Department’s and the co-plaintiff states’ competitive concerns.
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ronjor · Dec 6, 2019

State AGs look to head off T-Mobile-Sprint deal in court

NEW YORK (AP) — A high-drama telecom deal is heading to court.
06 Dec 2019
T-Mobile, in its attempt to buy Sprint for $26.5 billion, has already notched approvals from key federal regulators. Now it must convince a federal judge that the 14 state attorneys general suing to stop the deal are wrong. A trial starts Monday in U.S. District Court in New York and is expected to last several weeks.
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Sprint, T-Mobile Said to Close In on $26.5 Billion Combination

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