Reuters reports, “Wireless companies Sprint Corp and T-Mobile US Inc have informed the Federal Communications Commission that they will formally file an application asking for approval to merge on Monday, according to a document seen by Reuters.”
“The document, which was filed to the FCC on Thursday, also requests a protective order that would shield sensitive corporate information from public view,” Reuters reports. “The two companies, which are the third- and fourth-largest wireless carries, agreed to a $26 billion [sic] [recte $146 billion] all-stock deal in April that they said would create thousands of jobs and help the United States beat China to creating the next generation mobile network.”
Read more in the full article here.
MacDailyNews Take: As we wrote back in May:
T-Mobile and Sprint would do well to continue emphasizing how the merger could add U.S. jobs. If the merger goes through, the new T-Mobile plans to invest up to $40 billion in its new network and business in the first three years alone, a massive capital outlay that T-Mobile and Sprint say will fuel job growth at the new company and across related sectors. An investment of that size would be 46% more than T-Mobile and Sprint spent combined in the past three years.
More jobs = regulatory approval.
Beloved interns: Do your duty. TTK!
Why regulators should approve the T-Mobile/Sprint Deal – May 3, 2018
T-Mobile and Sprint merge in $146 billion deal expected to drive significant U.S. job growth – April 30, 2018