Sprint Dips After FCC Delays Merger With T

FCC stops the clock on T-Mobile-Sprint deal says it needs more time to evaluate the transaction

FCC pauses 180-day shot clock on its review of T-Mobile-Sprint merger

The third- and fourth-largest wireless USA service providers submitted their Public Interest Statement to the FCC in June, but the commission has now said it is pausing the informal 180-day "transaction shot clock", which is currently at day 56, following recent submissions related to a revised network engineering model.

T-Mobile, the fastest-growing of the four major USA wireless companies thanks to low prices and features such as free video, needs approval from the FCC and Justice Department for the Sprint deal.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. The FCC points to three separate developments that require more time for review.

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.

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This includes additional information about a business model and a "substantially revised network engineering model". Moreover, the Applicants asserted that this is now the "engineering model on which they rely in support of this transaction". The FCC called it "significantly larger and more complex than the engineering submissions already in the record".

Today we are pausing the Commission's informal 180-day transaction shot clock in this proceeding. He says it appears to incorporate new logic, methodologies, facts, and assumptions, something that can't be reviewed quickly. The commission said it only received information pertaining to Build 9 on September 5. Seems fair enough. "The clock will remain stopped until the Applicants have completed the record on which they intend to rely and a reasonable period of time has passed for staff and third-party review", concludes the letter. Build 9 therefore requires further review.

The FCC is also awaiting the submission of "additional economic modeling" supporting the merger from T-Mobile. The commission will then decide if the deadline needs to be extended.

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