New York no longer wants to sue T-Mobile and Sprint merger

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T-Mobile US

The merger with Sprint seems to be getting closer.


(Photo: AP)

new York At the Telekom subsidiary T-Mobile US, the hope of the green light for the planned merger with the rival Sprint is growing. The Attorney General of New York, Letitia James, said on Sunday that her state would not appeal the merger’s approval granted by a US judge a few days ago.

James had previously acted as a proxy for resistance to the multi-billion dollar project. After approval, several states had announced appeals against the decision. It was initially unclear whether it would stay that way or whether the opponents of the project would now turn on the New York line.

James said that instead of calling, she is now working with everyone involved to ensure that consumers get the best possible prices and services. In addition, the infrastructure for mobile communications in New York should be expanded and well-paid jobs should be created in the state.

Several states had previously said they feared that merging numbers three and four in the U.S. mobile market would result in higher prices. The U.S. Department of Justice approved the merger but attached conditions such as the sale of parts of the group and cellular frequencies to the permit.

The Federal Communications Commission, the industry regulator, had also given the green light. The merger is expected to create a mobile giant that has over 130 million customers and annual sales of around $ 76 billion. The planned merger had already failed twice in the past few years. Originally, the proposed merger, which would be a share swap, was worth $ 26 billion. In the course of rising share prices, however, the volume is now at $ 40 billion.

More: With the success in court, the megafusion with Sprint in the United States seems almost certain. For the Dax Group, it is both an opportunity and a problem.

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