In a deal that will transform the wireless communications landscape in the United States, U.S. District Judge Victor Marrero approved on Monday the merger of wireless carriers T-Mobile US Inc. and Sprint Corp.
The two companies agreed to a deal worth $26 billion two years ago, in which T-Mobile would take over the smaller and less competitive Sprint. Although that deal was approved by the Federal Communications Commission and U.S. Department of Justice in 2019, a coalition of the District of Columbia and 13 left-leaning states opposed the merger in court, alleging it would notably hamper competition in the wireless communications sector.
Judge Marrero rejected that argument, sending Sprint's stock skyrocketing, with a gain of 75 percent.
With Marrero's decision, there will be just three major wireless carriers in the United States. AT&T and Verizon are the other two companies. Another well-known corporation, Dish Network Corp., will join the sector with its own mobile phone offerings, thanks to a deal struck with the help of federal regulators.