Press Release: Justice Department Welcomes Texas Joining T-Mobile/Sprint Settlement
November 27 2019 - 12:36PM
Dow Jones News
The United States Department of Justice
FOR IMMEDIATE RELEASE
WEDNESDAY, NOVEMBER 27, 2019
WWW.JUSTICE.GOV/NEWS
Note: To view relevant documents, click: Amended complaint and
stipulation.
JUSTICE DEPARTMENT WELCOMES TEXAS JOINING T-MOBILE/SPRINT
SETTLEMENT
Texas Leaves the New York and California Litigation and Becomes
the Tenth State to Join the Justice Department's Resolution
WASHINGTON - Today, Texas is seeking to join the United States,
Arkansas, Colorado, Florida, Kansas, Louisiana, Nebraska, Ohio,
Oklahoma and South Dakota in the suit and proposed settlement
relating to the proposed merger of T-Mobile and Sprint. The
settlement requires a substantial divestiture package in order to
launch Dish Network Corp., a Colorado-based satellite television
provider, as a fourth nationwide provider of retail mobile wireless
services. The settlement also will expedite the deployment of
multiple high-quality 5G networks for the benefit of American
consumers and entrepreneurs.
"We are pleased that Texas has joined other states in leaving
the New York and California litigation and in deciding to join our
settlement," said Assistant Attorney General Makan Delrahim of the
Justice Department's Antitrust Division. "The merger, coupled with
competition from DISH, will benefit Texans and American consumers
nationwide."
The Department's Antitrust Division and now 10 co-plaintiff
states have sued to block this transaction, and have agreed to
settle the lawsuit based on the proposed settlement. That
settlement, if approved by the court, would resolve the Justice
Department's and the co-plaintiff states' competitive concerns.
Under the terms of the proposed settlement, T-Mobile and Sprint
must divest Sprint's prepaid business, including Boost Mobile,
Virgin Mobile and Sprint prepaid, to Dish. The proposed settlement
also provides for the divestiture of certain spectrum assets to
Dish. Additionally, T-Mobile and Sprint must make available to Dish
at least 20,000 cell sites and hundreds of retail locations.
T-Mobile must also provide Dish with robust access to the T-Mobile
network for a period of seven years while Dish builds out its own
5G network.
T-Mobile U.S. Inc. is a Delaware corporation headquartered in
Bellevue, Washington. In 2018, T-Mobile posted revenues of more
than $43 billion. Deutsche Telekom AG, a German corporation
headquartered in Bonn, Germany, is the controlling shareholder of
T-Mobile U.S. Inc.
Sprint Corporation is a Delaware corporation headquartered in
Overland Park, Kansas. In 2018, its posted revenue was over $32
billion. Sprint is controlled by SoftBank Group Corp., a Japanese
Corporation headquartered in Tokyo, Japan.
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ATR
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(END) Dow Jones Newswires
November 27, 2019 12:21 ET (17:21 GMT)
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