Published: Fri, September 14, 2018
Industry | By Terrell Bush

FCC Tells Sprint & T-Mobile It Needs More Time To Review Deal

FCC Tells Sprint & T-Mobile It Needs More Time To Review Deal

The Federal Communications Commission has paused the 180-day clock on its review of the T-Mobile and Sprint merger to give it more time to examine the transaction. In early August, the telecoms said they both added customers in the June-ended quarter.

T-Mobile CEO John Legere, left, and Sprint CEO Marcelo Claure take questions from Twitter during a call announcing the merger. Act Ii Management Lp who had been investing in T Mobile Us Inc for a number of months, seems to be bullish on the $55.87 billion market cap company.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. The only stated reason is the submission of new material from TMUS that significantly alters the criteria by which the FCC will make its assessment, thus requiring more time.

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Each of three separate developments require more time.

A "substantially revised" network engineering study submitted September 5 "is significantly larger and more complex than the engineering submissions already in the record", the agency said in a letter to the companies that it distributed by email on Tuesday. "The additional review time is common to FCC merger reviews and we recently supplied a large amount of data to the FCC that they want sufficient time to assess". It appears to incorporate new logic, methodologies, facts, and assumptions, on a subject central to the Applications-the transaction's claimed network benefits. The Commission did not receive Build 9, and third parties did not have access to it, until September 5. "Beyond frequent time is valuable to enable for thorough group and zero.33-social gathering assessment of newly submitted and anticipated modeling relied on by the Candidates", acknowledged the letter, signed by David B. Lawrence, head of the T-Mobile/Lunge Transaction Project Force, and Donald Stockdale Chief of the FCC's Wireless Telecommunications Bureau. Build 9 therefore requires further review. The Commission will decide whether to extend the deadline for reply comments after receiving the remainder of the Applicants' modelling submissions.

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