T-Mobile stated Wednesday it formally completed the $23 billion merger with Sprint, solidifying its position as the #3 wireless carriers in the USA.
The deal comes after a long authorized battle between multiple state attorneys general, which contended that a merger between T-Mobile and Sprint would be anticompetitive.
The merged firm will now operate under the T-Mobile title and can trade on the NASDAQ as “TMUS.”
The deal also permits T-Mobile and Sprint to join their high-band and low-band spectrum that might allow a faster launch of national 5G deployment.
Sprint acknowledged risks in an SEC filing, saying that its internal controls over monetary reporting could negatively impact the merged company.
A U.S. federal judge approved the merger deal, which was initially worth $26 billion, two months ago, rejecting a claim by a group of states that the merger would violate antitrust laws and raise prices.
The deal concluded without a final decision from the California Public Utilities Commission. The CPUC issued a proposed decision in March to approve the merger of T-Mobile and Sprint with conditions and the ultimate decision is slated to come on April 16.
T-Mobile and Sprint agreed to compel with any provisions set forth by the California commission.
The Federal Communications Commission signed the deal in October. FCC Chair Ajit Pai welcomes the decision and said that it would enhance the U.S. position in the competition to 5G deployment.