Sprint shares surge as $59bn T-Mobile merger is approved

  • 2/12/2020
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Shares in Sprint soared by more than 70pc after a federal judge approved its $59bn (£45bn) merger with T-Mobile USA. A lawsuit filed last year by attorneys general from 13 US states and the District of Columbia led by New York and California sought to block a proposed merger between Sprint and T-Mobile over concerns that the deal would reduce competition and lead to higher bills for customers. On Tuesday, a federal judge said the merger would not reduce competition. The legal challenge was filed after the proposed merger was approved by federal regulators last year. Both Sprint and T-Mobile have argued that the merger will help speed up the delivery of new 5G networks. The merger was first announced in 2018 following a nine-year courtship....

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