uploads///camera _

Four More States Sued to Block T-Mobile-Sprint Merger

By

Jun. 21 2019, Published 3:14 p.m. ET

Attempts to block merger

Earlier today, four more US states sued to block T-Mobile (TMUS) and Sprint’s (S) proposed merger deal on antitrust concerns, which pulled down their stocks. At 2:35 PM ET, T-Mobile stock was down 3.1% for the day, while Sprint stock was down 6.6%.

According to the Reuters report, “Hawaii, Massachusetts, Minnesota and Nevada will be included in an amended complaint being filed Friday.” It also said, “Lawyers for the states and the companies also proposed Oct. 7 for the start of a trial, which could last two to three weeks.”

The four states will join the ten states that had sued to stop the planned merger agreement last week. The lawsuit alleges the merger could harm competition and raise expenses for consumers.

Article continues below advertisement

Sprint and T-Mobile push to merge

However, T-Mobile and Sprint argue that the merger deal could boost their subscriber base, eliminate duplicate work, cut expenses, and widen their scale of operations. The deal could also help the companies combat competition from telecom rivals as well as online streaming giants like Amazon Prime and Netflix.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.