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T-Mobile and Sprint Didn't Need Another Merger Hurdle. They Just Got One.
June 12, 2019 at 12:51 p.m. ET
Robert Teitelman
Photograph by Saul Loeb/AFP/Getty Images
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Shares of T-Mobile US and Sprint both opened lower on Wednesday after 10 state attorneys general, led by New York and California, said they had filed a lawsuit opposing the $26 billion merger of the two wireless companies. The group is making a consumer welfare case, arguing that the merger would produce higher costs and lost jobs in their states.
Litigation in the middle of an ongoing merger is never welcome, yet is all but inevitable. In this case, however, given previous attempts to make the deal work, the length of time,...
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