REPORT UPDATE, 12:31 PST: Video interview with FCC Commissioner Brendan Carr on DOJ decision and Elizabeth Wear's reaction to the deal added
T-Mobile and Sprint Corporation announced that they have taken an important step toward completing their proposed merger to create the new T-Mobile by entering into a consent decree with the US Department of Justice (DOJ). The DOJ action moves the merger one step closer to closing, pending other regulatory approvals and the satisfaction of other closing conditions.
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At T-Mobile's earnings interview today, CEO John Legere said the company is "willing to partner with state AGs" concerned about the merger, including those who brought the lawsuit.
Doctors added that "We have had conversations with many of the states involved and we will continue these conversations, and I am very confident that we will find what is needed for them to participate."
Sprint Executive President Marcelo Claure talked to CNBC's David Faber about how it plans to take on Comcast and challenge cable companies across the country with the power of 5G and more.
In a press release today from Sprint about the DOJ approval Sprint CEO Marcelo Claure stated: "This is an important day for our country and, most importantly, US Consumers and Businesses Today's clearance from the DOJ, together with our expected approval from the FCC, will allow the United States to compete hard for 5G management, and we plan to build one of the world's most advanced 5G networks, which will massively revolutionize the way consumers and businesses are using their connected devices to improve their everyday lives. The powerful combination of 5G, artificial intelligence and the Internet of Things will unleash endless opportunities. "
T-Mobile CEO John Legere stated: " Today marks an incredibly important steps forward for New T-Mobile We are ready to bring this supercharged Un-carrier to consumers and businesses across the country, and this milestone brings us much closer to making that vision a reality for customers everywhere! Our goal was to ensure that DOJ's concerns were addressed while enabling us to deliver all aspects of the synergies we promised to unlock … and we did. It may have taken longer than anyone expected, but today's results are a win-win for everyone involved. We can't wait to get to work bringing this pro-consumer, pro-competition, new T-Mobile 5G network to US customers from coast to coast! "
Read the full details of the Sprint Press Release here.
Later this morning, FCC Commissioner Brendan Carr said on CNBC's" Squawk Alley "that the agreement will accelerate the development of widely available 5G service in the United States.
Of course, the Democrat presidential candidate views merger as pure evil rather than applauding agreement that could give US deeper leadership of 5G.
Trump's Department of Justice just approved @TMobile and @Sprint $ 26 billion merger This merger will cost thousands of jobs, reduce wages and further reduce competition in a sector that is in dire need of it. We need antitrust regulators with the courage to stand up to monopoly. Https: // t .co / IjYoSK1lan
– Elizabeth Warren (@ewarren) July 26, 2019
Politics aside, what do Apple fans think of the possible merger. Are you for or against it? Submit your comments below.
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