Sprint and T-Mobile, the nation’s third and fourth largest wireless carriers, believe that their proposed $26 billion merger, would allow the new company to rapidly expand 5G.
Continue Reading Below
T-Mobile CEO John Legere in a blog post last month vowed that the new company, named the New T-Mobile, would cover “97 [percent] of the U.S. population with 5G on low-band spectrum and 75 [percent] of the population with 5G on mid-band spectrum.”
|VZ||VERIZON COMMUNICATIONS INC.||56.12||-0.66||-1.16%|
|TMUS||T-MOBILE US INC||76.76||-1.03||-1.32%|
However, Connecticut Attorney General William Tong, one of 10 state AG’s behind a lawsuit to block the merger believes that there’s no “real guarantee” that the market place would get 5G any quicker.
“5G is important but we’re already seeing Sprint and T-Mobile push independently into 5G. And I think you’re going to see Verizon and AT&T push into 5G as well. And that’s just a market necessity and reality and they’re heading in that direction,” he told FOX Business’ Maria Bartiromo on Wednesday. “I don’t think there’s any guarantee based on what we’ve seen. We’ve seen 4 million documents, 30 depositions in this investigation over the last year.”
The deal was initially expected to close in the first quarter of 2019. However it is unclear whether it will win federal approval.