6/11, 6:27 PM (Source: TeleTrader)
more TeleTrader news

Ten US state AGs move to block Sprint, T-Mobile merger

New York Attorney General Letitia James (pictured centre) alongside California Attorney General Xavier Becerra and eight other state attorneys on Tuesday filed a lawsuit which is aimed at halting the proposed merger of telecom giants T-Mobile US Inc. and Sprint Corp. The complaint alleges that the merger of these two mobile operators would reduce competition and ultimately increase prices for the consumers, especially lower-income and minority communities in urban areas.

"That’s why we are going to court to stop this merger and protect our consumers, because this is exactly the sort of consumer-harming, job-killing megamerger our antitrust laws were designed to prevent," James said.

The media earlier reported that the US Department of Justice was poised to block the merger between the third and fourth largest mobile wireless networks in the country, as it was unsatisfied by the merger remedies and insufficient antitrust measures.

Breaking the News / MA