T-Mobile/Sprint deal wins key approvals from U.S. national security and defense agencies
T-Mobile US Inc.'s $26.5 billion bid to take over Sprint has cleared a major hurdle with U.S. national security officials.
The Committee on Foreign Investment in the U.S. under the Department of Treasury has signed off on the deal between Sprint and T-Mobile after examining it for potential national security issues, according to the companies.
Meanwhile, the U.S. Department of Justice, Department of Homeland Security, and Department of Defense also have "reviewed the transaction pertaining to potential national security, law enforcement, and public safety issues" and have "confirmed it has no objections to the merger and has withdrawn its request to defer action on the transaction," the companies said.
That leaves approval from the Federal Communications Commission, which is looking into antitrust concerns. Sprint and T-Mobile executives expects FCC approval around mid-2019.
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Because four cellphone carriers are too many?