T-Mobile also provided extra economic modeling that responded in part to petitions to deny the deal.More news: FEMA administrator's government vehicle use under investigation by DHS inspector general
The Federal Communications Commission has announced that it is stopping the clock on its review into the merger of T-Mobile and Sprint. The companies had tried to merge twice in the past, but regulators and internal disagreements prevented it from happening. Additionally, it needs more time to review a business model referred to as "Build 9", which provides the financial basis for the projected new network buildout. The Commission did not receive Build 9, and third parties did not have access to it, until September 5. But what is clear is that the FCC review process is going to take even longer, drawing out the merger approval process well into the latter half of the year and into 2019. T Mobile Us Inc now has $55.84B valuation. The companies submitted their formal merger query of to the FCC in June, wherein they vowed to "suppose a tough, nationwide world-class 5G community and providers and products sooner than in any other case imaginable".More news: Tesla is 'no longer investable' due to Elon Musk's antics, firm says
"The clock will remain stopped until the applicants have completed the record on which they intend to rely and a reasonable period of time has passed for staff and third-party review", the FCC letter stated.
The proposed merger of T-Mobile and Sprint won't happen anytime soon.More news: Florence maintains Cat. 3 strength as it barrels toward Carolinas
This is because the two companies recently submitted new materials to the FCC and it needs time to go through those materials before approving this deal. "We are confident that this transaction is pro-competitive, good for the country and good for American consumers, and we look forward to continuing to work with the FCC as they evaluate our plans".
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