T-Mobile CEO John Legere took to Twitter on Tuesday to say a Wall Street Journal story about the status of its merger with Sprint is “simply untrue.”
The tweet pointed to the first paragraph of the WSJ story, which says: “Justice Department antitrust enforcement staff have told T-Mobile US Inc. and Sprint Corp. that their planned merger is unlikely to be approved as currently structured, according to people familiar with the matter, casting doubt on the fate of the $26 billion deal.”
The Justice Department, which evaluates corporate mergers on the basis of seeing whether a resulting company would pose antitrust concerns, has been leery of recent attempts to combine the four remaining major wireless carriers in the United States.
In 2011, AT&T abandoned a bid to buy T-Mobile after it realized it was facing tough scrutiny from the Justice Department over antitrust concerns.
The Wall Street Journal’s report also indicated that Justice Department staff questioned whether the combined company would result in the efficiencies that Sprint and T-Mobile have championed since the proposed deal was announced last year.
Full Content: Wall Street Journal, Kansas City
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI