FCC Tells Sprint & T-Mobile It Needs More Time To Review Deal

FCC pauses 180-day shot clock on its review of T-Mobile-Sprint merger

Second, the FCC requires more time to review "Build 9", a business model described by T-Mobile execs Mike Sievert and Peter Ewens in a meeting on August 29th.

Act Ii Management Lp increased its stake in T Mobile Us Inc (TMUS) by 16.1% based on its latest 2018Q1 regulatory filing with the SEC. (S) has been put on hold by The Federal Communications Commission (FCC).

Following years of on-and-off talks between the two wireless carriers, the pair announced an all-stock $26 billion merger back in April.

The FCC wrote a letter to Sprint and T-Mobile on Tuesday, stating that it was pausing the informal 180-day clock for reviewing mergers, as it needs more time to review the proposed deal. The companies had tried to merge twice in the past, but regulators and internal disagreements prevented it from happening. Similarly, a business model titled "Build 9" that was also submitted September 5 needs further review, the FCC said.

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"Finally, T-Mobile recently disclosed that it intends to submit additional economic modeling in support of the Applications, beyond that strictly responsive to the various economic analyses in the Petitions to Deny". An enlarged T-Mobile can quickly build a next-generation - so-called 5G - network giving more people access to speedy broadband, the companies told the FCC in June. The commission said it only received information pertaining to Build 9 on September 5.

"Additional time is necessary to allow for thorough staff and third-party review of newly-submitted and anticipated modeling relied on by the Applicants", the commission wrote in a letter to the companies.

"Considering the complexity and potential importance of these newly-provided and expected models, it is appropriate to stop the informal 180-day clock to allow time for their review", writes David Lawrence, the director of the T-Mobile / Sprint Transaction Task Force, and Donald Stockdale, the chief of Wireless Telecommunication Bureau. "We are confident that this transaction is pro-competitive, good for the country and good for American consumers", it said.

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