6/14, 9:24 PM (Source: TeleTrader)
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DoJ to approve Sprint, T-mobile merger if they divest - report

United States Department of Justice is willing to approve between telecom giants T-Mobile Inc. and Sprint Corp. if the two firms sell multiple assets and create a new wireless competitor, the New York Times reported on Friday. Allegedly, the DoJ is advocating for divestments in existing prepaid mobile service and radio spectrum, and the companies have already approached three internet and television providers with that offer.

Sources close to the matter said that a deal between the companies and the department could be concluded during next week.

Previously, ten US state Attorney Generals announced they would contest the merger in the court, in a lawsuit which alleges the deal would reduce competition and increase prices for the consumers. The Justice Department was reportedly initially reluctant to the $26 billion merger, despite the earlier endorsement made by the Federal Communication Commission.

Breaking the News / MA