On February 11, 2020, Judge Victor M. Marrero of the U.S. District Court for the Southern District of New York ruled in favor of T-Mobile and Sprint, allowing their planned merger to move forward by rejecting a states-led challenge of the deal. The companies are now taking final steps to complete their merger to create the New T-Mobile.
The lawsuit was brought by attorneys general from 13 states and the District of Columbia, which alleged that the proposed deal would substantially lessen competition in the market and therefore sought to enjoin the merger of T-Mobile and Sprint. In a landmark decision, Judge Marrero rejected the states’ allegations and issued an order siding with the companies.
In a statement, Sprint Executive Chairman Marcelo Claure said that the decision in the state AG litigation “validates our view that this merger is in the best interests of the U.S. economy and American consumers. Today brings us a step closer to creating a company that will provide nationwide 5G, lower costs, and a high-performing network that will invigorate competition to the benefit of all mobile wireless and in-home broadband consumers.”
MoFo is lead counsel to Sprint and SoftBank in the merger with T-Mobile, which remains subject to certain closing conditions. MoFo also has acted as lead counsel to SoftBank and Sprint in securing antitrust clearance from the U.S. Department of Justice CFIUS, and advised on securing approvals from the Federal Communications Commission and relevant state public utility commissions. The MoFo regulatory team is led by Washington, D.C., antitrust partner Jeff Jaeckel, and the MoFo transaction teams are led by San Francisco M&A partner Brandon C. Parris.
Read the companies’ press release.