FCC chairman endorses Sprint, T-Mobile merger

FCC, Sprint, T-Mobile to announce agreement on deal: source

FCC, Sprint, T-Mobile to announce agreement on deal: source

Sprint Corp and T-Mobile US Inc announced a series of changes to their proposed $26 billion deal on Monday, while USA regulators were expected to announce agreement on the conditions necessary to approve the merger, sources said.

The $26 billion merger would give control of all of Sprint's communication licenses and permissions over to T-Mobile, according to the FCC merger docket.

The FCC and Justice Department had been expected to make a decision in early June.

Legere also reiterated T-Mobile's promise to keep prices at "same or better" levels "for three years".

In another new commitment, the combined T-Mobile/Sprint pledged to roll out an in-home 5G broadband product including to rural households. According to a statement released on May 20, FCC Chairman Ajit Pai will recommend that the merger between the two US carriers is approved. Within three years, the "New T-Mobile" will market in-home broadband service to at least 9.6 million eligible households, of which at least 2.6 million will be in rural areas. Prices will NOT go up for at least 3 years. and that includes 5G!

Sprint jumped 25.1% to $7.73 while T-Mobile was up 6% to $79.93.

Pai will recommend to the other FCC commissioners that they approve the merger. "I support the combination of T-Mobile and Sprint because Americans across the country will see more competition and an accelerated buildout of fast, 5G services", Commissioner Carr explained, adding that the deal's commitments are "verifiable and enforceable" and that T-Mobile's commitment to rural 5G "will help close the digital divide".

T-Mobile recently announced it was beginning to trial using its 4G LTE for home broadband while Sprint last week announced that its HTC 5G Hub, a hotspot that aims to replace a traditional modem and router, will be available in its first 5G markets on May 31.

In a filing with the FCC on Monday, the companies pledged to sell Boost Mobile, a prepaid wireless provider. "We should seize this opportunity".

Under the revised terms of the merger submitted with the FCC, the companies would "suffer serious consequences" - including billions of dollars in financial penalties - "if they fail to follow through on their commitments to the FCC", according to Pai.

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