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The newly formed entity will become the US’ third largest telco when the deal completes in 2019
T-Mobile and Sprint have won regulatory backing for their proposed merger from two key security watchdogs, according to a company release.
The $26 billion merger would see the US’ third and fourth biggest telcos come together to create a newly formed entity capable of challenging US telecoms giants AT&T and Verizon.
The proposed deal won approval from the Committee on Foreign Investment in the United States and the so-called Team Telecom alliance, comprised of the US Department of Justice, Department of Homeland Security and the Department of Defence.
“We are pleased to achieve both of these important milestones in the journey to build the New T-Mobile. We are a step closer to offering customers a supercharged disruptor that will create jobs from day one and deliver a real alternative to fixed broadband while delivering the first broad and deep nationwide 5G network for the United States,” said John Legere, chief executive officer of T-Mobile.
“These approvals assure the strong partnership both companies have with the U.S. government will continue with the New T-Mobile. We look forward to continuing our discussions with the remaining regulatory agencies reviewing our transaction to share our story and subsequently achieve similar positive results.”
The completion of the merger is still subject to further regulatory approval, with both Sprint and T-Mobile saying that they expect the deal to close in the first half of 2019.
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