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t-mobile sprint acquisition

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T-Mobile's John Legere promises no rate-hikes for at least three years if the Sprint merger is approved

The road to merging two large carriers isn't an easy one. For Sprint and T-Mobile to merge into "New T-Mobile," a lot of hearts need to be won over. In October 2018, company shareholders approved the merger and in December, "Team Telecom" and the Committee on Foreign Investments green-lighted it too. The next two hurdles to cross are clearances from the Department of Justice and FCC. Yesterday, T-Mobile CEO John Legere penned a letter to FCC Chairman Ajit Pai asking for approval. In this, he promised to keep rates "the same or less" than the current plans by T-Mobile and Sprint, for at least three years.

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61

T-Mobile shareholders greenlight Sprint deal amid strong third quarter results

T-Mobile, the third largest wireless carrier in the US by subscriber count, posted impressive third quarter results Tuesday. The operator revealed 774,000 net new monthly-billed subscribers — far above Wall Street estimates of around 628,000 net additions. As for revenue, T-Mobile brought in $10.84 billion, beating estimates of $10.72 billion. Perhaps the best news of all for the wireless company's future, though, was its announcement that shareholders had greenlit its acquisition of Sprint, the fourth largest American carrier.

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