T-Mobile and Sprint soar as FCC chairman says he'll recommend merger [Los Angeles Times (CA)]
T-Mobile US, Inc. (TMUS)
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Source: Los Angeles Times
T-Mobile and Sprint soar as FCC chairman says he'll recommend merger Federal Communications Commission Chairman Ajit Pai said Monday he would recommend approval of the $26.5-billion T-Mobile US Inc.-Sprint Corp. merger, after the companies made commitments including asset sales and rural-service guarantees. Shares of both companies jumped in pre-market trading after the announcement. The promises include the sale of one of their prepaid brands, a three-year buildout of their 5G network, and a reiterated pledge not to raise prices while the network is being constructed. The new pledges follow talks with the FCC. Bloomberg News reported the coming concessions Sunday, and Reuters reported Monday morning that an announcement was imminent. Sprint shares jumped 25% in early trading, while T-Mobile rose 5.4%. “Two of the FCC’s top priorities are closing the digital divide in rural America and advancing United States leadership in 5G, the next generation of wireless connectivity,” Pai said in
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