T-Mobile US Inc said on Wednesday it officially completed the $23 billion merger with Sprint Corp, solidifying its position as the No.3 wireless providers in the United States. The deal comes after a long legal battle between multiple state attorneys general which argued that a merger between T-Mobile and Sprint would be anticompetitive. The combined company will now operate under the T-Mobile name and will trade on the NASDAQ as “TMUS.” The deal also enables T-Mobile and Sprint to join their high-band and low-band spectrum that could allow a faster roll-out of national 5G. Sprint acknowledged risks in an SEC filing, saying that its internal controls over financial reporting could negatively impact the combined company. A U.S. federal judge approved the deal, which was originally valued at $26 billion, in February, rejecting a claim by a group of states that the proposed transaction would violate antitrust laws and raise prices. The deal closed without a final decision from the California Public Utilities Commission. The CPUC issued a proposed decision in March to approve the merger of T-Mobile and Sprint with conditions and the final decision is slated to come on April 16. T-Mobile and Sprint agreed to abide by any… Read full this story
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