FOX Business’ Charlie Gasparino says T-Mobile CEO John Legere feels confident that the State AG’s will lose their case to break up the contested T-Mobile/Sprint merger.
T. Mobile’s $26 billion tie-up with Sprint is expected to win a blessing from a federal judge as early as Tuesday, FOX Business has confirmed.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| S | SPRINT CORP. | 4.80 | -0.13 | -2.64% |
| TMUS | T-MOBILE US INC | 84.53 | -0.91 | -1.07% |
Both stocks soared in extended trading on Monday, with Sprint rallying over 71 percent, after closing lower in the regular session after investors speculated the deal would face roadblocks from the state attorneys general suing to block the deal on the grounds it would lead to higher costs for consumers.
FCC APPROVES T-MOBILE-SPRINT MERGER, REQUIRES BOOST MOBILE DIVESTITURE
The judge has alerted parties of the ruling and will make it public, likely after the close of trading on Tuesday, according to sources familiar with the developments.
The companies themselves, as reported by FOX Business, had remained confident the deal would win the ok on the grounds the case brought by at least 13 state AGs, including New York, was not strong.
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Last month, FOX Business’ Charlie Gasparino asked T. Mobile CEO John Legere, if he had a plan to appeal if the deal was torpedoed.
While he declined to comment directly, he did say, “It’s a hypothetical I don’t expect to have to face” he said.
“I feel very confident” he added at the time.
The combined company will create a stronger competitor against bigger telecoms including AT&T and Verizon. It is also expected to help strengthen America’s position in 5G against China.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| T | AT&T INC. | 38.34 | -0.11 | -0.29% |
| VZ | VERIZON COMMUNICATIONS INC. | 60.24 | +0.30 | +0.50% |
