Shares of T-Mobile rose $2.93, or nearly 4%, to $78.29, while Sprint's stock soared 19% to $7.34.
As T-Mobile and Sprint look for approval to close their merger deal, the companies have proposed a new deal to hold prices for customers for three years. The New York Times reported that FCC Chairman Ajit Pai pledged his support on Monday after the carrier agreed to a series of "significant commitments", which included expanding rural broadband service, building a robust 5G network, and selling off the Sprint-owned Boost Mobile prepaid cell service.
The DOJ may decide to block the deal with an antitrust lawsuit, similar to what was attempted with the AT&T-Time Warner merger. These high-ranking members will take this alleged recommendation of the antitrust staff into consideration when they make their final decision.
Pai said Monday that the combination will help bring faster mobile broadband to rural Americans.
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Taiwan media ETtoday quoted Chi-Mau Sheih, the chairman and CEO, saying that his company will continue selling the existing stock. However, we already know that it has developed its own operating system that will be replacing Android on its devices.
In regulatory filings, T-Mobile and Sprint promised to build out a 5G network that will extend to rural parts of the country - many of which now lack high-speed broadband access.
Altice had urged the FCC to reject the deal because it was concerned it would be stopped from offering the phone service.
The FCC's seal of approval came after the carriers agreed to sell off Sprint subsidiary Boost Mobile to spur competition at the low-priced end of the market.