T-Mobile US (NASDAQ: TMUS) said it received shareholder approval on the proposed merger with Sprint Corporation (NYSE: S) from Deutsche Telekom Holding B.V., which holds about 63.5 percent of T-Mobile common stock. The carrier received written consent on October 30, in favor of proposals to approve the issuance of shares of T-Mobile common stock and the amendment and restatement of the T-Mobile certificate of incorporation, in connection with the Sprint transaction. The transaction remains subject to FCC and DOJ approvals and other closing conditions. T-Mobile expects the deal to close in the first half of 2019.
Opponents, meanwhile, became more vocal as the formal FCC comment period about the transaction closed yesterday. The Communications Workers of America (CWA) and the Rural Wireless Association, as well as public interest groups Public Knowledge and Free Press, oppose the deal, saying it will result in 30,000 lost jobs, and higher prices for consumers. They refute the carrier’s assertions that the transaction will help close the digital divide and that a combined T-Mobile-Sprint would maintain competition in the wireless industry.
The CWA launched a website, and a Twitter account @TMSprintFacts, which it says offers facts and materials on why the proposed T-Mobile and Sprint merger is bad news for U.S. workers and consumers. “As T-Mobile and Sprint make unsubstantiated claims about the merger’s supposed benefits, the new website content offers facts and in-depth analysis showing why the merger, as presently constructed, is against the public interest,” according to CWA Research and Telecommunications Policy Director Debbie Goldman. Comments? email us
November 1, 2018