T-Mobile US Inc. won court approval for its $26.5 billion takeover of Sprint Corp., defeating a state-led lawsuit that sought to block the industry-altering wireless deal.
T-Mobile US Inc. won court approval for its $26.5-billion takeover of Sprint Corp., defeating a state-led lawsuit that sought to block the industry-altering wireless deal.
The ruling comes almost two years after the deal was first announced. The states’ lawsuit was the last major hurdle to the deal after it secured the blessing of regulators at the Federal Communications Commission and Justice Department’s antitrust division. It still needs approvals from California’s utility board and a federal judge in Washington who must sign off on the Justice Department settlement.Deutsche Telekom shares rose as much as 3.6% to 15.40 euros in Frankfurt.
As far as negotiation leverage goes, Sprint’s in a tough spot, said Walt Piecyk, an analyst with LightShed Partners. “Sprint has no alternative but to take whatever DT and T-Mobile offers them,” he said. “There’s really nothing else they can do.”
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