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T-Mobile and Sprint merger deal, still need to win antitrust approval.

On Monday, for their tie-up bid of $26 billion, T-Mobile US Inc and Sprint Corp remained successful to get a go ahead from two national security reviews which cleared major obstacles for the merger.

Team Telecom deal, as companies referring it so, after facing up and downs during review processes, got the clearance collectively from Committee on Foreign Investment (CFIUS) in the United States as well as the, Department of Homeland Security, Defense Department and Justice Department.

Getting of an all clear from CFIUS had already been expected for the merger of T-Mobile and Sprint after an offer regarding Huawei equipment was made by the foreign owners of the both firms, also reported by Reuters on Friday citing sources.

Deutsche Telekom AG, owner of T-Mobile and Japan’s SoftBank Group Ltd, owner of Sprint Corp had offered to stop using equipment of Huawei Technologies.

Last week, over usage of Huawei gear, Deutsche Telekom was pushed by the U.S. officials to discontinue the practice and in order to get approval from CFIUS, headed by the Treasury Department, both companies were in view to better comply with it.

Worrying upon the Huawei gear possibly be spying for Chinese government, Huawei has been shut out by many governments around the world and the United States and its allies are leading to step up the pressure on Huawei, whereas to the other end Huawei denied any control of Beijing over it.

Huawei has also been facing its exclusion by many European and Australian telecom operators for their fifth-generation (5G) mobile networks.

Equipment from Huawei has not been used by T-Mobile and Sprint but their owners, Deutsche Telekom and SoftBank, use some of Huawei gears in other countries.

T-Mobile and Sprint still have to go through antitrust approval from the Justice Department and the Federal Communications Commission.

The deal is likely to be closed by the first half of 2019.

Maria Wiggins

Written by Maria Wiggins

Maria Wiggins:- News Stories
I am Maria Wiggins and I have over 11 years experience in the Technology industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

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