Yep, T-Mobile and Sprint’s $26.5 billion mega-merger is really happening
2Reported today on TheNextWeb
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Yep, T-Mobile and Sprint's $26.5 billion mega-merger is really happening
California won't appeal
California won't try to stop a $26.5 billion mega-merger between telecoms giant T-Mobile and the struggling Sprint, CNET reports.
A US District Court approved the deal last month, which sees the third and fourth largest telecoms providers in the US become one. This is expected to swell T-Mobile's subscriber base to 140 million, helping it compete with AT&T and Verizon.
The decision not to appeal the court's ruling comes by way of a settlement between California and T-Mobile, with the latter agreeing to protect low-income consumers and the jobs of local Sprint workers.
[Read: Sprint stocks up 75% after judge approves $26.5 billion T-Mobile merger]
T-Mobile will also reportedly pay back California and the other states for costs associated with their investigations and litigation, a fee that's expected to total around $15 million.
This acquisition was in limbo for over two years
Led by New York and California, the attorney generals of more than a dozen states filed a lawsuit back in 20