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Judge Approves T-Mobile and Sprint Merger

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Shares of Sprint surged a whopping 72 percent after news a U.S. District Judge has ruled in favor of Sprint’s $26 billion deal to merge with T-Mobile.

According to CNBC, the approval comes after some state attorneys general filed a lawsuit arguing that “combining the No.3 and No. 4 US carriers would limit competition and result in higher prices for consumers.”

Before the deal was given the go ahead, CNBC reports T-Mobile and Sprint agreed to certain concessions, with the companies telling the FCC they would deploy a 5G network covering 97% of the U.S. population within three years of the deal closing.

Sprint also agreed to sell Boost Mobile, Virgin Mobile and other prepaid phone businesses, as well as its wireless spectrum to Dish network for $5 billion.

The merger has one last hurdle to clear, with the deal needing approval from the California Public Utilities Commission before it can close.


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