Sprint/T-Mobile merger looks on track to close in 2019
When T-Mobile and Sprint first announced plans to merge in April, the companies expected that after regulators had their say and investors gave the green light that the transaction would close in the first half of 2019.
Well, the green light has been lit, though the government review is still ongoing, but all of that could still mean that the merger will be completed on schedule.
That sentiment comes from T-Mobile CFO Braxton Carter who appeared at the Morgan Stanley TMT Conference in Barcelona today. Reuters reports that the company has submitted 25 million pages of documents to the Department of Justice, 600 more pages to the FCC and a number of hours in meetings with DC officials on various topics from prepaid carrier competition — Sprint and T-Mobile own three of the largest prepaid brands in the nation which, combined, have more than half the market share — to grid security. There will be more depositions to the DoJ in the next weeks.
“At this point, it’s more pointing to the second quarter as more probably [but] it could still be the first quarter,” Carter said.
The merger with Sprint has been pegged as the chance for a combined company to take the lead on 5G growth in the United States with a quoted 8 times the capacity and 15 times the speed than either carrier would be able to achieve alone.