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States file antitrust suit to block T-Mobile-Sprint merger

2019-06-11 18:34 by
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A group of 10 New York and California's state attorneys general have filed a lawsuit to block the proposed merger of T-Mobile and Sprint while the US Justice Department's decision looms. The two companies announced the $26 billion merger last April, which would shrink the US's national wireless carrier pool from four to three providers if approved.

Before filing the lawsuit, the states engaged in a year-long investigation into the merger in order to gauge how it could potentially affect consumers in the country. They now say they have determined that the merger as proposed violates the country's antitrust laws.

"When it comes to corporate power, bigger isn't always better," New York Attorney General Letitia James said in a statement. "The T-Mobile and Sprint merger would not only cause irreparable harm to mobile subscribers nationwide by cutting access to affordable, reliable wireless service for millions of Americans, but would particularly affect lower-income and minority communities here in New York and in urban areas across the country."

While Ajit Pai, chairman of the Federal Communications Commission, already supports the deal with a few questionable stipulations, the T-Mobile/Sprint merger also faces a closer look from the U.S. Justice Department, which is currently investigating the competition implications of taking the U.S. wireless market from four carriers to three.

Read more -here-

 

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