T-Mobile/Sprint Merger Clears U.S. National Security Panel2018-12-17 18:46 by Daniela
Tags: T-Mobile, Sprint
The Committee on Foreign Investment in the United States (CFIUS) has approved the proposed T-Mobile-Sprint merger, according to sources speaking to the Wall Street Journal.
Cfius, which is led by the U.S. Treasury, became involved partly because of the sensitive nature of the telecommunications industry and also because Sprint and T-Mobile are controlled by non-U.S. based companies.
Deutsche Telekom and Softbank, parent companies of T-Mobile US and Sprint respectively, have confirmed they will not be working with Huawei moving forward. Neither US telco currently has any Huawei kit in its network, though it is hoped this statement from the international telcos will have the bureaucrats hand edging closer to the green button for the $26 billion merger.
T-Mobile and Sprint have pitched the merger to the public and to regulators as a job creator, and touted how it would lower prices for consumers and allow the new company to build a 5G wireless network unrivaled worldwide.
The companies continue to hope to close their transaction in the first half of next year; the FCC and Department of Justice, along with a number of state officials, continue to review the deal.
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