New Street Says T-Mobile/Sprint Still More Likely to Fall Apart
The outlook for T-Mobile closing its Sprint buy remains in question, despite a report last week that U.S. regulators are now comfortable with three national wireless carriers rather than four, New Street Research emailed investors Sunday. Others report antitrust chief…
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Makan Delrahim and other DOJ officials believe the market demands “at least three” carriers, New Street said. If Justice believed three carriers is enough, “it would have been a clear plus for the deal,” the firm said. “The odds favor the deal being rejected because some combination of staff competition concerns, White House political concerns, and state attorney generals’ litigation will mortally wound the deal’s chances,” New Street said. “Odds have benefitted from an excellent roll out by the companies, mooted congressional opposition, and to date, no significant business opposition.” DOJ didn't comment.