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Report: T-Mobile, Sprint working on concessions to win regulatory approval

T-Mobile US Inc. and Sprint Corp. are working on concessions to win regulatory approval for their proposed merger, Bloomberg News reported May 19, citing people with knowledge of the matter.

The concessions, which could be announced as early as this week, will reportedly include asset sales, commitment to a three-year buildout of their 5G network and rural-service guarantees. The companies may spin off Sprint's Boost brand while retaining the Virgin Mobile and Metro prepaid businesses to get the deal approved.

Sprint and T-Mobile extended the expected closing date of their proposed merger to July 29. The completion of the merger remains subject to regulatory approvals and certain other customary closing conditions.