T-Mobile has now taken over Sprint wireless carrier, creating major competition for other wireless giants such as AT&T and Verizon.
The deal began two years ago but was delayed due to backlash from federal and state regulators who wanted to block the deal because it would increase consumers' bills. However, the FCC and the Department of Justice approved the merger late last year confirming that it would allow the wireless carrier to provide its services at a lower price for consumers.
The deal, which was valued at $31.6 billion, is now completed and Sprint’s stock is no longer being traded, while T-Mobile’s stock increased by 2.35% on Tuesday morning.
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03.23.2023