T-Mobile-Sprint merger wins approval from US judge

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T-Mobile-Sprint merger wins approval from US judge

Despite a flurry of lawsuits from state Attorney Generals to individuals aimed at preventing a planned merger of T-Mobile and Sprint which had accused the merger would decline the number of US wireless data carriers to three and might result in a hike in pre-paid data prices, T-Mobile US Inc.

inched closer to the acquisition of Sprint corp. on Tuesday, the 11th of February 2020, after a US Federal Judge had ruled in favour of the merger deal, rejecting the claims of the states. In point of fact, back in the December of 2019, a two-week long trial took place over a number of lawsuits from states which alleged the merger would raise prices and violate anti-trust laws, while the wireless data carriers were quoted saying that the merger would put up even a better competition with two of the United States’ largest data carriers, Verizon Communications Inc.

alongside AT&T. Meanwhile, following release of the verdict, several analysts were quoted saying that the merger deal could be a boom for Japanese investment conglomerate SoftBank Group Corp., the controlling stakeholder of Sprint, as the conglomerate had been seeking to shrug off a number of unprofitable assets likes of WeWork before going for the fundraising campaign of its second vision fund.

Apart from that, Tuesday’s (February 11th) court verdict came as a fresh breather for the shareholders of both T-Mobile and Sprint Corp., since Nasdaq-listed shares of T-Mobile US Inc. torrented 11.78 per cent to $94.49 per share and Sprint Corp. skyrocketed as much as 77.50 per cent to $8.52 per share on Tuesday’s (February 11th) Wall St. round off.