Sprint Nextel Corporation (NYSE:S) has sent out a press release today explaining their opinion on AT&T’s $39 billion acquisition of T-Mobile. Sprint said that the transaction still requires approval from the Department of Justice and the Federal Communications Commission.
Sprint says that this deal “would reverse nearly three decades of actions by the U.S. government and the courts that modernized and opened U.S. communications markets to competition. The wireless industry has sparked unprecedented levels of competition, innovation, job creation and investment for the American economy, all of which could be undone by this transaction.”
Sprint is urging the U.S. government to block the deal for anti-competitive reasons. AT&T and Verizon are the largest wireless providers in the U.S. with roughly 90+ million subscribers. AT&T’s acquisition of T-Mobile would put them at 120+ million.
[Sprint Press Release]