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Sprint and T-Mobile merge, creating new wireless giant
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NEW YORK – Mobile carrier T-Mobile has completed the takeover of smaller rival Sprint, creating a new wireless giant that rivals AT&T and Verizon in size.
The companies announced the deal, valued at $31.6 billion based on T-Mobile's closing stock price Tuesday, two years ago. It has taken a long time to close because of pushback from state and federal regulators.
The Federal Communications Commission and the Department of Justice approved the deal last year, with DOJ telling the companies that they must set up satellite TV company Dish as a new wireless carrier — an unusual arrangement — in order to win approval.
Public-interest groups said this was insufficient to correct the harms from the merger. State attorneys general sued to block
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