States to File Antitrust Suit to Block T-Mobile-Sprint Deal
By Editor - Wed Jun 12, 12:07 am
State attorneys general from nine states and the District of Columbia filed the lawsuit Tuesday in federal court in New York to stop a deal they say will harm competition and raise prices for consumers by at least $4.5 billion a year. “When it comes to corporate power, bigger isn’t always better,” New York Attorney General Letitia James said in a statement. The states’ challenge is a major setback to T-Mobile’s and Sprint’s plan to combine and take on industry leaders AT&T Inc. and Verizon Communications Inc. Last month, the carriers cleared a key hurdle when they won support for their deal from the chairman of the Federal Communications Commission.