Ten states led by New York and California have filed a lawsuit to stop T-Mobile ...
WASHINGTON - Ten states led by New York and California have filed a lawsuit to stop T-Mobile US Inc’s $26 billion purchase of Sprint Corp, warning that consumer prices will jump due to reduced competition.
Attorneys general from the ten states have been investigating the deal, which would reduce the number of nationwide wireless carriers to three from four. The companies have pledged not to boost rates for three years. T-Mobile, whose parent company is Deutsche Telekom AG, and Sprint, controlled by Japan’s SoftBank Group Ltd, did not comment. A spokeswoman for the New York attorney general declined to comment.While AT&T and Verizon dominate the overall U.S. wireless market, T-Mobile is the most popular among customers who make less than $75,000 per year, and Sprint’s Boost Mobile prepaid brand counts 83 percent of its users in that income range, according to Kagan, S&P Global Market Intelligence data.
The states’ complaint also said that divesting Boost would not resolve competitive concerns since Boost would be dependent on another carrier to provide network access, meaning that it is not independent. The next two big steps will be determining the position of Makan Delrahim, head of the antitrust division, and the identity of the judge assigned to the states’ lawsuit, Levin wrote.
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