FCC Pauses Proposed Sprint-T-Mobile Merger

FCC stops the clock on T-Mobile-Sprint deal says it needs more time to evaluate the transaction

T-Mobile also provided extra economic modeling that responded in part to petitions to deny the deal. An enlarged T-Mobile can quickly build a next-generation - so-called 5G - network giving more people access to speedy broadband, the companies told the FCC in June.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Also Nasdaq.com published the news titled: "T-Mobile US, Inc.to Present at the Goldman Sachs 27th Annual Communacopia Conference in New York, NY" on September 07, 2018.

Each of three separate developments require more time.

"Considering the complexity and potential importance of these newly-provided and expected models, it is appropriate to stop the informal 180-day clock to allow time for their review", writes David Lawrence, the director of the T-Mobile / Sprint Transaction Task Force, and Donald Stockdale, the chief of Wireless Telecommunication Bureau.

More news: CLOSINGS: Several schools close ahead of Hurricane Florence

"Today we are pausing the Commission's informal 180-day transaction shot clock in this proceeding", opens the letter.

T-Mobile and Sprint have "extended" a network engineering model that was originally submitted as a backup plan. Moreover, the Applicants asserted that this is now the "engineering model on which they rely in support of this transaction". "The additional review time is common to FCC merger reviews and we recently supplied a large amount of data to the FCC that they want sufficient time to assess". He says it appears to incorporate new logic, methodologies, facts, and assumptions, something that can't be reviewed quickly. The FCC received both on September 5. Build 9 therefore requires further review.

T-Mobile has been looking to build a narrative that the merger will be good for US wireless customers, as it creates a stronger rival to market leaders Verizon and AT&T, while also allowing the U.S.to better compete with other nations in deploying the next generation of 5G networks. Accordingly, the Commission and third parties will require additional time to review it. "The Commission will decide whether to extend the deadline for reply comments after receiving the remainder of the Applicants' modeling submissions".

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