trending Market Intelligence /marketintelligence/en/news-insights/trending/p5XloePEZx0Pf16SX_mMIg2 content esgSubNav
In This List

US senators urge early T-Mobile-Sprint deal review

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

FIFA World Cup 2022: Advertising Revenue by the Numbers

Blog

Insight Weekly: Reviving nuclear power; 2023 outlook for US financials; PE funds fuel EV sector


US senators urge early T-Mobile-Sprint deal review

A group of U.S. Senate Democrats led by Sen. Amy Klobuchar, D-Minn., and Sen. Al Franken, D-Minn., are urging regulators to launch a review of a potential T-Mobile US Inc.-Sprint Corp. merger ahead of the companies' anticipated formal deal announcement.

In a letter addressed to FCC Chairman Ajit Pai and Assistant Attorney General for the U.S. Department of Justice's Antitrust Division Makan Delrahim, the senators warned of significant antitrust issues, including potential harm to consumers in case both companies agree to a merger. Sen. Klobuchar is the member of the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights.

"Beginning an investigation into a merger of T-Mobile and Sprint now will allow your agencies to quickly, but fully, review the agreement if it is announced," the senators said.

A potential deal could see T-Mobile's majority shareholder Deutsche Telekom AG taking a majority stake in the merged U.S. companies, while Sprint owner SoftBank Group Corp. will own about 40% to 50%.

The other signatories of the letter are senators Patrick Leahy, D-Vt., Richard Blumenthal, D-Conn., Ron Wyden, D-Ore., Kirsten Gillibrand, D-N.Y., Ed Markey, D-Mass., and Jeff Merkley, D-Ore.