Mobile's John Legere denies Justice Department pushback on Sprint merger

T-Mobile/Sprint merger is in danger of being rejected by DOJ

T-Mobile CEO John Legere denied the Journal report, writing on Twitter that "t$3 he premise of this story.is simply untrue".

The U.S. Justice Department has told T-Mobile US Inc and Sprint Corp it has concerns about their proposed $26 billion merger in its current structure, sources familiar with the matter said on Tuesday, although no final decision has been made.

T-Mobile US and Sprint are facing potential rejection of their proposed merger at the US Department of Justice.

A final decision on the deal is likely near the end of the 180-day Federal Communications Commission review period that expires in June. Staffers in the department question the validity of those arguments and are concerned about removing a competitor from the wireless industry, according to the Journal.

Sprint declined to comment.

Sprint shares "are trading at a roughly 20 percent discount to the price implied by the all-stock deal, signaling Wall Street doubts about the combination's chances", the report also said.

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The agreement to combine the carriers, struck in April 2018, was approved by both companies' shareholders in October and has received national security clearance, but still needs approval from the Justice Department and FCC.

T-Mobile and Sprint did not immediately answer messages.

For the past four years, T-Mobile and Sprint have been trying to merge together.

It's said that T-Mobile could still turn things around by offering assets sales to alleviate the DOJ's concerns, but it's now unclear what the next steps are.

Discussions between the two carriers and government officials are reportedly ongoing. For example, T-Mobile claims that its 5G home internet service is only possible if it merges with Sprint. Besides the federal agencies, states are reviewing the merger and could sue to block it even without DOJ help.

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