US FCC pauses review of T-Mobile, Sprint merger

Sprint T Mobile CEOs on the odds of merger approval

In a letter, the agency said it paused an 180-day transaction clock at day 55 because it needed more time to review recently submitted materials in support of the $26 billion merger. Some Historical S News: 21/05/2018 - Boost Mobile Founder Wants T-Mobile, Sprint to Divest Prepaids; 27/04/2018 - BREAKING NEWS FROM CNBC'S ALEX SHERMAN: SPRINT, T-MOBILE SET TO ANNOUNCE A $26 BILLION MERGER; 01/05/2018 - S&PGR: SoftBank Rtgs Pressure Stays If Sprint, T-Mobile Merge; 02/05/2018 - Sprint Delivers Best Financial Results In Company History With Highest Ever Net Income And Operating Income In Fiscal Year 2017; 29/04/2018 - SoftBank's Sprint Corp agreed to combine with Deutsche Telekom's T-Mobile to create a USA wireless career that will have a market value of more than $80 billion; 30/04/2018 - Merger Fever Infects T-Mobile US, Sprint, and Others - Barron's Blog; 02/05/2018 - SPRINT SEES FY ADJ EBITDA $11.3B TO $11.8B, EST.

Sprint and T-Mobile will have to keep waiting.

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The FCC sets a goal of completing merger reviews in 180 days, and can pause the countdown clock enumerating those days as it seeks clarifications or more information.

The FCC said Tuesday it was pausing the review clock - now at Day 55 - because the two companies had submitted new information including a "substantially revised" network engineering model, a new business model and additional economic modeling. Moreover, the Applicants asserted that this is now the "engineering model on which they rely in support of this transaction". It appears to incorporate new logic, methodologies, facts, and assumptions, on a subject central to the Applications-the transaction's claimed network benefits. On top of that, it said, it also requires some extra time to go over a business model named "Build 9", which will provide the financial basis for the projected new network buildout. Both submissions were received on September 5. Build 9 therefore requires further review. Accordingly, the Commission and third parties will require additional time to review it.

T-Mobile said in a statement that it looked forward to working with the FCC in the review process. "The Price will bewitch whether to extend the time limit for reply comments after receiving the leisure of the Candidates' modeling submissions".

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