Deals
FCC Chief Gives Nod on T-Mobile Deal, Turning Focus to Antitrust
- Justice Department approval seen as likely after Pai statement
- T-Mobile, Sprint offer concessions to aid $26.5 billion merger
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T-Mobile US Inc. and Sprint Corp. jumped as Federal Communications Commission Chairman Ajit Pai said he’ll recommend his agency approve the companies’ $26.5 billion merger, turning attention to whether the deal also will win a needed clearance from antitrust regulators.
Approval from the Justice Department antitrust division “seems likely” since it never has diverged from the FCC on a merger, said Paul Gallant, a Washington-based analyst for Cowen & Co. It’s now “almost assured” the deal will win FCC approval, Gallant said in a note.