T-Mobile and Sprint seem to be inching closer to their $26 billion merger.
Late Monday, T-Mobile released a statement mentioning that the wireless operators have received approval on their proposed merger from the Committee on Foreign Investment in the United States. Also, the U.S. Departments of Justice, Homeland Security and Defense have withdrawn an earlier request to postpone the deal, as revealed by T-Mobile’s statement.
However, the companies still await some other approvals (such as, antitrust approval from the Justice Department and the Federal Communications Commission) before the deal can get finalized.
If the T-Mobile-Sprint deal goes through, it would see the third and fourth largest wireless carriers in the U.S. joining forces to compete with AT&T and Verizon. T-Mobile and Sprint have reportedly claimed to reduce their product prices if they merge.