Sprint's purchase for $ 26.5 billion by T-Mobile is yet to be approved by the FCC and the GM before the signing of the deal. The FCC generally gives itself 180 days to review a merger under its jurisdiction. This so-called informal "countdown" was halted once in September when the FCC said it needed more time to review the additional documents provided by the two wireless service providers. After the clock restarted on December 4 at the 55th day, it was frozen again in January, when the federal government closed. At the end of the stop, the clock went back to work.
For the third time, the FCC has called a timeout. Reuters reports that the regulator announced Thursday that it would add three more weeks to the review period to give US consumers time to comment on the proposed deal. The FCC has decided to request this additional comment period after T-Mobile and Sprint have filed new information on how they plan to integrate their operations from 2019 to 2021. The timer will resume the 122nd day on April 4th.
At a public meeting in October, T-Mobile President and CEO John Legere was quoted as saying the merger would create 3,000 new jobs after the deal was finalized, to reach 11,000 here. 2024. Generally, an enterprise acquired as part of the merger is faced with deletions employees in duplicate positions are fired. And T-Mobile expects to close a number of Sprint stores that overlap with current T-Mobile locations. That's why the Communication Workers of America (CWA) expects 28,000 employees of both companies to lose their jobs if the deal is approved.
Regulators are also worried that wireless prices will rise as a result of the merger, eliminating one of the top four US carriers. Others point out that the combined T-Mobile-Sprint could be considered a threat to AT & T and Verizon, which could result in lower prices.
T-Mobile President and CEO John Legere said the other day that he was planning to conclude the contract with Sprint during the summer.