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!
SEE ALSO:
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
Lot of mergers these days. Now I’m sure some will holler monopoly. But if I can save money from this transaction, I’m all in …
Does anyone believe customers will save money or get better coverage?
No. Not in the slightest.
One would think the combination would expand coverage and service. Whether they lower prices to compete remains to be seen …
I absolutely believe customers will both save money and get better coverage.
The issue now is that AT&T and Verizon really dominate the space. T-Mobile and Sprint are so far behind that their viability is at risk. They certainly aren’t even options for many of us despite better policies on their plans.
By allowing them to merge, we end up with 3 big carriers instead of the 2 that we now have. This is a good thing as long as T-Mobile/Sprint invest in expanding their infrastructure, which appears to be a large incentive for the merger to being with.
You’re assuming that Verizon or AT&T wouldn’t eventually buy the combined company? There’s nothing that would prevent it.
AT&T was already blocked from buying T-Mobile, so there’s case precedent that would stand to be used against Verizon or AT&T buying a combined T-Mobile/Sprint, but with the current administration who knows?
That said, a combined T-Mobile/Sprint would be harder to acquire both financially and legally than individually and as I mentioned provide a viable and competitive 3rd option.
So with the merger…..
when have you ever saved money in an industry consolidation? you cheered on the so called tax reform, now you see that whatever pennies you think you saved in taxes will be more than eaten up in inflation of consumer prices. happens every time an administration chooses to let corporations walk all over citizens. this administration is so corrupt it promised jobs, but the extreme protectionism is already unraveling what could have been a good economic climate for everyone. oligarchs win again.
Back off newly created avatar anonymous coward CX …
I am not anonymous. I am not a coward. And I concur, in general, with Sion’s post above.
The tax reform included some decent aspects, but it was once again dominated by the special interests to funnel preferential treatment to business (especially the
pass-throughs”) and the wealthy, while mostly giving lip service to the middle class and below. In the end, the Trump tax reform will result in a massive increase in deficits and, potentially, another economic crisis in about six years (reference Reagan and 1987 crash, Bush and 2007 crash). History repeats itself.
Trump is not all bad. But he has appointed some highly corrupt people. He is also playing fast and loose with the pardon power and has a distinct predilection for false statements and redefining history to suit his own ego.
“In the end, the Trump tax reform will result in a massive increase in deficits and, potentially, another economic crisis in about six years (reference Reagan and 1987 crash, Bush and 2007 crash).”
I’ll do my best to be civil and yet disagree. You and others here that favor the Democrats first and most of the time make the same mistake.
When you only offer one side or selective facts (half truths) it mistakenly paints a deceptive picture. Certainly not the FULL TRUTH because God is in the details.
Two cases you mentioned above:
(1). If the tax cuts stimulate the economy like they did in the early Reagan years, the money will be flowing into the treasury hand over fist and the yearly deficit will vanish causing a surplus. Reagan’s mistake after years of prosperity was to make a deal with the Democrats to increase domestic spending. I remember a newspaper article at the time that put it succinctly — for every dollar the federal government was taking in, they spent two leading to deficits.
(2). You mentioned “Bush and 2007 crash” without offering details, causes or facts. Just the typical abbreviated garden style guilt by association style. Simply, it happened because of years of the Dodd-Frank mortgage lending bill that collapsed banks and Wall St. in September 2007.
So in both cases, Democrat legislation played a huge part. But to read your post, it implies it was because of Reagan and Bush just because they were in office at the time?
We need to hear both sides of the story, ALWAYS, to get the TRUTH …
“Trump is not all bad.”
But the media IS, over 90% negative coverage the HIGHEST in history, despicable. Can you imagine the glowing wall to wall coverage the media would be preaching if a Democrat president enjoyed these stunning economic numbers for a FIRST time politician? Because the media has about lost all objectivity under President Trump, his approval numbers if they were FAIR should be over 60%.
“He is also playing fast and loose with the pardon power and has a distinct predilection for false statements and redefining history to suit his own ego.”
Oh right, like Clinton and Obama did not pardon nefarious characters there last days in office. At least this president has the confidence to do it now before heading out the door.
Yes he makes “false statements” but it has nothing to do with “redefining history.” That is a PC Democrat strategy like tearing down monuments. In his earnest cheerleading talk to the media he makes mistakes. But I never got the sense he is intentionally deceiving like we saw with EVERY WORD out of the CALCULATING Clintons. Yes, he needs to do much better in that area …
when have you ever saved money in an industry consolidation? you cheered on the so called tax reform, now you see that whatever pennies you think you saved in taxes will be more than eaten up in inflation of consumer prices. happens every time an administration chooses to let corporations walk all over citizens. this administration is so corrupt it promised jobs, but the extreme protectionism is already unraveling what could have been a good economic climate for everyone. oligarchs win again.
I’ll approve the merger if it means I can get T-Mobile cell phone reception without the aid of WiFi calling. It stinks when my T-Mobile signal is so spotty that I got disconnected from 911 when I had WiFi issues and I’m dead in the water when the electricity and WiFi go out.
We suffered like that for 25 years with AT&T until Verizon upped the local standard to 4G which made all the difference (though they were just as bad before). It was so nice to make a call from inside our house or out in the driveway. Contractors who come over who have AT&T are always wondering why their phones are dead. AT&T made promises for years to fix it though they never did to this day.
MERGER MANIA! It’s great for businesses, hell for customers.
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MDN, terminate this SPAM shit.
Yes, PLEASE MDN. I’m getting several of these e-mails a day for a couple weeks now …
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