Sprint and T-Mobile have taken a rocky road to a merger, calling off and resuming talks.
The Federal Communications Commission needs more time to review the proposed Sprint – T-Mobile deal, the agency said in a letter to the companies Tuesday.
The agency has paused an “informal” 180-day transaction clock “to allow for thorough staff and third-party review” of recently submitted materials.
Sprint and T-Mobile have taken a rocky road to a merger, calling off and resuming talks. The companies announced that they would merge last April in a bid to cut costs and combine forces to develop a next-generation network called 5G.
Shares of Sprint and T-Mobile were essentially flat in extended trading.
Here’s the full letter:
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