The Latest: States sue to stop $26.5B Sprint-T-Mobile deal
NEW YORK (AP) — The Latest on T-Mobile-Sprint lawsuit (all times local):
12:25 p.m.
A group of state attorneys general led by New York and California are filing a lawsuit to block T-Mobile’s $26.5 billion bid for Sprint, citing consumer harm.
The state AGs say the merger would hurt competition and drive up prices for cellphone service.
It’s an unusual step ahead of a decision by federal antitrust authorities. The Justice Department’s decision is pending. The Republican chairman of the Federal Communications Commission supports the deal.
The companies say they need to bulk up to upgrade to a fast, powerful “5G” mobile network that competes with Verizon and AT&T. The companies are appealing to President Donald Trump’s desire for the U.S. to “win” a global 5G race. Consumer advocates and Democratic lawmakers worry about price increases and job cuts.
Other attorneys general joining Tuesday’s lawsuit are from Connecticut, Colorado, the District of Columbia, Maryland, Michigan, Mississippi, Virginia and Wisconsin.
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12:10 p.m.
Published reports say a group of state attorneys general are planning a lawsuit to block a $26.5 billion merger of wireless carriers T-Mobile and Sprint.
It’s an unusual step ahead of a decision by federal antitrust authorities.
The reports from Reuters and The Wall Street Journal cite unidentified people familiar with the matter.
The Justice Department has not yet issued a decision. The Republican chairman of the Federal Communications Commission, the nation’s telecom regulator, supports the deal.
The companies say they need to bulk up to upgrade to a fast, powerful “5G” mobile network that competes with Verizon and AT&T. The companies are appealing to President Donald Trump’s desire for the U.S. to “win” a global 5G race. Consumer advocates and Democratic lawmakers worry about price increases and job cuts.
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