Published
4 years agoon
WASHINGTON — U.S. regulators are approving T-Mobile’s $26.5 billion takeover of rival Sprint, despite fears of higher prices and job cuts.
Meanwhile, the Republican-controlled Federal Communications Commission agreed in May to back the deal after T-Mobile promised to build out rural broadband and 5G, sell its Boost prepaid brand and keep prices on hold for three years
But public-interest advocates complained the FCC conditions did not address the problems of the merger — higher prices, less wireless competition — and would be difficult for regulators to enforce.
Attorneys general from 13 states and the District of Columbia then filed a lawsuit to block the deal. They say the promised benefits, such as better networks in rural areas and faster service overall, cannot be verified, while eliminating a major wireless company will immediately harm consumers by reducing g competition and driving up prices for cellphone service.
They may not be satisfied with the settlement and choose to press ahead.
A judge must also approve the Justice Department’s settlement.
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