Justice department approves $26 billion T-Mobile sprint merger
The Justice Department is approving T-Mobile US Inc’s $26 billion takeover of rival Sprint Corp, Reuters reports. The deal will merge the nation’s third and fourth largest wireless carriers. The Justice Department indicated the deal would improve competition and the rollout of faster 5G networks. Critics say the merger won’t increase competition and prices for mobile phone plans will rise. T-Mobile Chief Executive Officer John Legere will be the CEO of the combined company.