T-Mobile’s $59bn Sprint takeover given DOJ blessings

 The Donald Trump administration has formally given the blessing for T-Mobile’s $59bn takeover of Sprint, after 450 days the two wireless groups clinched a deal to unite and create one of the largest mobile providers in the US.

 The Department of Justice has said yesterday that it would not block the transaction after T-Mobile and Sprint agreed to divest assets to satellite television provider dish and provide the company with access to its wireless spectrum for seven years while the Colorado-based group builds it own high-speed 5G network. The divestitures would be worth $6bn according to the justice department.

John Legere, T-Mobile’s CEO said the companies were ready to move ahead with the merger, ”Our goal was to ensure the DOJ’s concern’s were addressed while enabling us to deliver on every aspect of the synergies we promised to unlock… and we did it. With this merger frankly you’ll probably have more competition than you have today”.

The deal was approved by five Republican state attorneys-general but no the 14 Democratic state attorney-general who have sued to block the deal in New York meaning the companies face a major hurdle to close their deal. The DOJ settlement must also still be approved by a federal judge.