The Department of Justice has formally reached an agreement with Sprint and T-Mobile on their merger, but a lawsuit from several state attorneys general remains.
As part of the agreement, Sprint will divest its Boost Mobile, Virgin Mobile and Sprint prepaid phone businesses. Sprint and T-Mobile will divest some of their wireless spectrum toand make at least 20,000 cell sites and hundreds of retail stores available to the company. Dish will also be able to access T-Mobile's network for seven years.
"Americans' access to fast, reliable and affordable wireless connectivity is critically important to our economy and to every American consumer and to their way of life," Delrahim said in a press conference announcing the agreement.State attorneys general from Nebraska, Kansas, Ohio, Oklahoma and South Dakota have signed onto the agreement.
In an interview with CNBC's David Faber, Sprint chairman Marcelo Claure maintained that Dish will be a viable competitor once the deal is approved. It brings an end to years of negotiations between the companies. Sprint parent SoftBank tried and failed to float a merger with T-Mobile in 2014 due to regulatory concerns, then deal talksThe DOJ decision was expected to come out Thursday, but was delayed as the DOJ spoke with states and encouraged them to support the deal,Claure said he hopes the state attorneys who brought the lawsuit will understand the potential value that could come from the deal.
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