Sprint and T-Mobile officially making bid for merger to FCC from Monday
On Thursday, Sprint and T-Mobile filed documents telling the FCC that it will send a formal application requesting to merge on June 18. The fourth- and third-largest wireless carriers, respectively, are beginning the regulatory review process for their $26 billion all-stock deal.
It’s highly expected that the conservative majority in place at the FCC will approve of the merger and that the transaction will get more scrutiny at the Justice Department — it is being reported that the agency’s antitrust chief is interviewing smaller carriers, including those who buy access to Sprint and T-Mobile networks on a wholesale basis, on their concerns.
Outside of the government, investors are watching to see if Sprint’s share price will eventually meet with the agreed-upon conversion price of $6.50. It’s currently at $5.49.
The filed document essentially request that sensitive corporate documents be withheld from public view when the application is sent in.