T-Mobile and Sprint receive approval from both the Committee on Foreign Investment in the U.S. and Team Telecom on merger transaction
Via Sprint Newsroom
Dec 18, 2018
Bellevue, Washington and Overland Park, Kansas – December 17, 2018 – T-Mobile US (NASDAQ: TMUS) and Sprint Corporation (NYSE: S) today announced that the companies have successfully received approval from the Committee on Foreign Investment in the United States (CFIUS) for their proposed merger transaction. Additionally, the U.S. Department of Justice, Department of Homeland Security, and Department of Defense, collectively referred to as Team Telecom, submitted a filing with the FCC that it has reviewed the transaction pertaining to potential national security, law enforcement, and public safety issues. Team Telecom confirmed it has no objections to the merger and has withdrawn its request to defer action on the transaction.
“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 combination remains subject to regulatory approvals and certain other customary closing conditions, and is expected to occur during the first half of 2019. Additional information regarding T-Mobile’s merger with Sprint can be found at: www.NewTMobile.com.
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