T-Mobile US and Sprint Corp expect to extend a July 29 deadline to complete their $26-billion merger. At the same time, T-Mobile talks with Dish over a potential sale of Boost have appeared to stall and Altice is the latest company to meet with the FCC’s transaction team about the proposed deal.
Sources close to the deal declined to tell Reuters what the new deadline would be. T-Mobile and Sprint have agreed to a series of deal concessions, including selling the prepaid brand Boost to gain merger approval, but they still need an okay from the Department of Justice. The DOJ’s antitrust staff recommended the agency block the deal, Inside Towers reported.
The carriers are in talks with Dish to hammer out the Boost sale in order to win over the DOJ. They’re negotiating over restrictions determining who can buy the divested assets if they are sold in the future. T-Mobile and Deutsche Telekom seek to prevent them from going to a cable or technology company, the Wall Street Journal reported.
Altice is interested in T-Mobile concessions, too. Representatives reiterated its prior advocacy and discussed with the FCC, “commitments necessary from New T-Mobile to preserve sustainable competitive entry into the retail wireless market for the benefit of consumers,” according to Seeking Alpha. FCC Chairman Ajit Pai has said he’d approve the transaction in principle and formal approval is expected within weeks.
July 15, 2019
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