FCC needs more time to review T-Mobile and Sprint merger

FCC stops the clock on T-Mobile-Sprint deal says it needs more time to evaluate the transaction

What just happened? The merger between T-Mobile and Sprint will take a bit longer to get the green light from the FCC.

The letter posted on the FCC website reads: "Today we are pausing the Commission's informal 180-day transaction shot clock in this proceeding". The companies submitted their formal merger query of to the FCC in June, wherein they vowed to "suppose a tough, nationwide world-class 5G community and providers and products sooner than in any other case imaginable".

The companies had unsuccessfully tried to merge in 2014 and 2017, with regulators stopping the first attempt and disagreement over how much control the companies would have nixing the deal on the second attempt. Submissions up for review include a large, complex document detailing the benefits a deal would create, information about network expansion plans and an economic modeling report. Additional time is necessary to allow for thorough staff and third-party review of newly-submitted and anticipated modeling relied on by the Applicants.

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The agency announced Tuesday that it was pausing its informal 180-day "shot clock" to review the transaction in order to give its staff more time to review recent filings from the two companies. Act Ii Management Lp who had been investing in T Mobile Us Inc for a number of months, seems to be bullish on the $55.87 billion market cap company. Accordingly, the Commission and third parties will require additional time to review it.

T-Mobile has been looking to build a narrative that the merger will be good for USA wireless customers, as it creates a stronger rival to market leaders Verizon and AT&T, while also allowing the U.S.to better compete with other nations in deploying the next generation of 5G networks.

T-Mobile, the fastest-growing of the four major US wireless companies thanks to low prices and features such as free video, needs approval from the FCC and Justice Department for the Sprint deal. "We are confident that this transaction is pro-competitive, good for the country and good for American consumers", the company said.

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