Sprint Surges on Reports $26 Billion T-Mobile Merger Will Get Federal Court Approval [TheStreet.com]
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Source: TheStreet.com
Sprint Corp. ( Get Report TMUS Multiple media reports, first published by the Wall Street Journal, suggest Judge Victor Marrero of the U.S. District Court for Southern New York, could rule on the $26 billion tie-up as early as today, allowing the third and fourth largest U.S. wireless carries to combine following nearly two years of dispute related to competition and pricing concerns. "Direct competition between Sprint and T-Mobile has led to lower prices, higher quality service, and more features for consumers," the suit contended. "If consummated, the merger will eliminate the competition between Sprint and T-Mobile." Sprint shares were marked 68.5% higher in pre-market trading to indicate an opening bell price of $8.09 each, while T-Mobile shares rose 7.4% to change hands at $90.75 each in extended trading. The merger plans have divided lawmakers and attorneys since it was first announced in April 2018 -- despite the two company's plans to increase 5G spending and investments in ru
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