T-Mobile’s $26 billion bid to acquire rival Sprint Corp has been approved by the U.S. Justice Department. The breakthrough comes after the deal was caught for more than a year in regulatory limbo.
In a significant development, the U.S. Justice Department disclosed, it has approved T-Mobile US Inc’s request to acquire Sprint Corp following their agreement to divest Sprint’s prepaid businesses including Boost Mobile to Dish Network Corp.
The Justice Department and five state attorneys general said they were filing suit to enforce the settlement conditions that also include the companies providing DISH with access to 20,000 cell sites and hundreds of retail locations.
T-Mobile’s bid to acquire Sprint Corp has been challenged in court by a few state attorneys general led by New York.