JUST IN: US Justice Dept. approves $26.5B merger between Sprint and T-Mobile. - claireatki
ahead of the deal that “we can’t ignore that AT&T and Verizon still continue to control 80% of the Big 4 profitability and have 70% of the wireless market share. Even with the merger of Sprint and T-Mobile, Verizon and AT&T would each still have nearly three times the market cap of the combined companies.” Legere has made written commitments not to raise prices during the next three years while the company builds out 5G.
Not everyone is happy about the prospect of what could be a less competitive market, however. Gigi Sohn, a former counselor to Tom Wheeler when he was head of the Federal Communications Commission, told NBC News in a statement, “Given incontrovertible evidence of higher prices and reduced competition, Assistant Attorney General Makan Delrahim should have blocked this merger.”
“A new mobile wireless entrant that starts with zero postpaid subscribers and that must rely on its much bigger rival, the new T-Mobile, just to operate is not a competitor. It's a mobile Frankenstein,” she said. It will take Dish some time to create a real fourth presence in the wireless industry, said Georgetown University Law Center professor, Andrew Jay Schwartzman."Dish will start with none of the lucrative postpaid customers, no brand name and no retail network. Even if Dish successfully builds out its own network, that could not happen for several years, during which time the three big wireless companies will be able to lock in their customer and introduce their 5G technologies.
The Justice Department is forcing the two companies to sign what’s known as a consent decree, which means binding terms to ensure the companies live up to the agreements they have made. The merger has also been criticized by a dozen state attorneys general, which haveEarlier this week the DOJ said it would probe the big technology companies to see if they are behaving anti-competitively.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Netflix’s Market Value Drops $26 Billion In A Week; Founder’s Net Worth Falls In TandemFounder Reed Hastings’ net worth is down more than $800 million.
Baca lebih lajut »
Justice Department in Talks With States to Win Support for T-Mobile, Sprint MergerThe Justice Department is pushing state officials to support a planned settlement that would allow T-Mobile US and Sprint to merge by selling assets to Dish Network.
Baca lebih lajut »
Cable firm Charter submitted plan to buy Sprint/T-Mobile assets: sourcesCable firm Charter submitted a plan to buy Sprint/T-Mobile assets to DOJ, but never heard back from the agency by angelamoon00 & Sheila_Dang
Baca lebih lajut »
DOJ goes after Big Tech—here's what 5 experts are watching nowFacebook, Amazon and Google parent Alphabet were front and center Wednesday as the Justice Department prepared for an antitrust probe of Big Tech, and experts have their eyes on earnings.
Baca lebih lajut »
DOJ won't charge William Barr, Wilbur Ross after contempt voteThe Justice Department decides not to pursue criminal charges against its leader, the Attorney General, or the Commerce secretary, who both defied congressional subpoenas
Baca lebih lajut »
DOJ investigates potential antitrust behavior in tech sectorThe Justice Department is investigating potential antitrust behavior from tech companies, CNBC's ylanmui reports.
Baca lebih lajut »