Sprint, T-Mobile in early stages of regulatory review, no decisions yet - source
U.S. antitrust enforcers are in the early stages of reviewing T-Mobile US Inc`s
Sprint shares were up 9.8 percent at $6.17 and T-Mobile rose 7.3 percent to $66.03 at mid-afternoon, after the New York Post reported that U.S. regulators believed that just three national providers were needed, removing an obstacle to the deal.
The two companies compete against AT&T
The source, requesting anonymity because he was not authorized to speak on the record, said "at least" three carriers were needed, and that the report`s assertion that regulators have decided on just three carriers was not entirely accurate.
The Justice Department did not immediately respond to a request for comment. T-Mobile and Sprint declined to comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.