cloudyn.png
Saturday July 20th, 2019 6:22AM

The Latest: States sue to stop $26.5B Sprint-T-Mobile deal

By The Associated Press

NEW YORK (AP) — The Latest on T-Mobile-Sprint lawsuit (all times local):

12:25 p.m.

A group of 10 state attorneys general led by New York and California are filing a lawsuit to block T-Mobile's $26.5 billion bid for Sprint, citing consumer harm.

The state AGs say the merger would hurt competition and drive up prices for cellphone service.

It's an unusual step ahead of a decision by federal antitrust authorities. The Justice Department's decision is pending. The Republican majority of the Federal Communications Commission supports the deal.

The companies say they need to bulk up to upgrade to a fast, powerful "5G" mobile network that competes with Verizon and AT&T. The companies are appealing to President Donald Trump's desire for the U.S. to "win" a global 5G race. Consumer advocates and Democratic lawmakers worry about price increases and job cuts.

___

12:10 p.m.

Published reports say a group of state attorneys general are planning a lawsuit to block a $26.5 billion merger of wireless carriers T-Mobile and Sprint.

It's an unusual step ahead of a decision by federal antitrust authorities.

The reports from Reuters and The Wall Street Journal cite unidentified people familiar with the matter.

The Justice Department has not yet issued a decision. The Republican chairman of the Federal Communications Commission, the nation's telecom regulator, supports the deal.

The companies say they need to bulk up to upgrade to a fast, powerful "5G" mobile network that competes with Verizon and AT&T. The companies are appealing to President Donald Trump's desire for the U.S. to "win" a global 5G race. Consumer advocates and Democratic lawmakers worry about price increases and job cuts.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Consumer News, AP Business - Corporate News, AP Technology News
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
US resident released from Iran custody says it eases tension
A U.S. permanent resident who was released in Iran following years of imprisonment on charges of espionage said Tuesday that he was subjected to "kidnapping, arbitrary detention and a show trial"
1:08PM ( 8 minutes ago )
US says Egypt, Jordan and Morocco to attend peace workshop
A White House official says that Egypt, Jordan and Morocco have confirmed their attendance at U.S. conference this month in Bahrain, where the administration will unveil the economic portion of its plan for Mideast peace
12:52PM ( 23 minutes ago )
Jon Stewart lashes out at Congress over 9/11 victims fund
Comedian Jon Stewart is scolding Congress for failing to ensure that a victims' compensation fund set up after the 9/11 attacks never runs out of money
12:45PM ( 30 minutes ago )
Associated Press (AP)
10 states sue to stop $26.5 billion Sprint-T-Mobile deal
A group of 10 state attorneys general led by New York and California are filing a lawsuit to block T-Mobile's $26.5 billion bid for Sprint, citing consumer harm.
12:37PM ( 38 minutes ago )
Stocks fizzle and flatten out at midday after early gains
U.S. stocks gave up early gains and fizzled in midday trading after technology and industrial companies headed lower
12:31PM ( 44 minutes ago )
Biden assailing Trump on trade as both come to Iowa
Biden is assailing Trump on trade and branding him an 'existential threat to America' as both come to Iowa
12:08PM ( 1 hour ago )
AP Business
Regulators give phone companies new tools to fight robocalls
Federal regulators are giving phone companies the right to block unwanted calls without getting customers' permission first.
2:04PM ( 4 days ago )
The Latest: Regulators approve new tools to fight robocalls
Federal regulators are giving phone companies the right to block unwanted calls without getting customers' permission first.
12:14PM ( 5 days ago )
Help coming on blocking scam calls for robocall-plagued US
New moves by U.S. regulators could help thwart some of the billions of robocalls received in the U.S. The rising volume of calls in the last few years has created pressure on Congress, regulators and phone companies to act
1:56PM ( 3 weeks ago )
AP Business - Consumer News
Detained US resident freed by Iran arrives in native Lebanon
Beirut official: US resident and Lebanese businessman imprisoned for years in Iran freed, on his way back to his native Lebanon
10:41AM ( 2 hours ago )
China telecom giant Huawei hints US pressure hurting sales
China telecom giant Huawei hints US pressure hurting global expansion
4:56AM ( 8 hours ago )
US stocks climb after US suspends tariffs on Mexican goods
Technology companies and banks helped power stocks higher on Wall Street Monday as investors welcomed news that the U.S. and Mexico averted a trade war and potentially damaging tariffs
5:05PM ( 20 hours ago )
AP Business - Corporate News
China mum on Trump-Xi meeting as Huawei says sales slowing
China mum on Trump-Xi meeting as Huawei says sales growth slowing
6:37AM ( 6 hours ago )
Customs says hack exposed traveler, license plate images
U.S. Customs and Border Protection service says images of travelers and license plates have been exposed in a cyberattack
11:34PM ( 13 hours ago )
UN panel: Connect half the world, and $20 phones can help
A U.N. panel is calling for greater cooperation to bring digital technology to roughly half the world's people, and a senior Google executive says cellphones with Internet access are being created to sell for about $20 to help make this possible
10:55PM ( 14 hours ago )
AP Technology News
US resident released from Iran custody says it eases tension
A U.S. permanent resident who was released in Iran following years of imprisonment on charges of espionage said Tuesday that he was subjected to "kidnapping, arbitrary detention and a show trial"
1:08PM ( 8 minutes ago )
US says Egypt, Jordan and Morocco to attend peace workshop
A White House official says that Egypt, Jordan and Morocco have confirmed their attendance at U.S. conference this month in Bahrain, where the administration will unveil the economic portion of its plan for Mideast peace
12:52PM ( 23 minutes ago )
Jon Stewart lashes out at Congress over 9/11 victims fund
Comedian Jon Stewart is scolding Congress for failing to ensure that a victims' compensation fund set up after the 9/11 attacks never runs out of money
12:45PM ( 30 minutes ago )
GOP's Amash, impeachment supporter, quits conservative group
Lone Republican calling for President Donald Trump's impeachment has quit an influential caucus of House conservatives
12:44PM ( 31 minutes ago )
States sue to stop $26.5 billion Sprint-T-Mobile deal
A group of state attorneys general led by New York and California are filing a lawsuit to block T-Mobile's $26.5 billion bid for Sprint, citing consumer harm.
12:44PM ( 31 minutes ago )