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T-MOBILE US

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FCC chief endorses T-Mobile merger with Sprint

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05/20/2019 | 05:13pm EDT

The chairman of the Federal Communications Commission said Monday he endorses a proposed merger deal between T-Mobile US Inc. and Sprint Corp.

"I believe that this transaction is in the public interest and intend to recommend to my colleagues that the FCC approve it," Ajit Pai said in a statement.

"This is a unique opportunity to speed up the deployment of 5G throughout the United States and bring much faster mobile broadband to rural Americans. We should seize this opportunity."

The endorsement came after the companies agreed to various concessions, including a promise to deploy a 5G network that would cover 85 percent of rural Americans within three years and 90 percent within six years. T-Mobile US is a subsidiary of Deutsche Telekom AG, while Sprint is SoftBank Group Corp.'sU.S. wireless carrier unit.

The $26 billion merger deal between T-Mobile and Sprint, which was announced in April last year, is currently under review by the Justice Department and the FCC.

If approved, the deal would shrink the United States' major wireless carrier pool to three, down from four including AT&T Inc. and Verizon Communications Inc.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 0.00% 15.356 Delayed Quote.3.62%
SOFTBANK GROUP CORP -50.52% 5099 End-of-day quote.-27.21%
SPRINT CORP -0.15% 6.83 Delayed Quote.17.35%
T-MOBILE US -1.27% 74.58 Delayed Quote.17.28%
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Financials ($)
Sales 2019 45 424 M
EBIT 2019 5 859 M
Net income 2019 3 392 M
Debt 2019 24 459 M
Yield 2019 -
P/E ratio 2019 19,02
P/E ratio 2020 16,09
EV / Sales 2019 1,96x
EV / Sales 2020 1,83x
Capitalization 64 534 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 83,0 $
Spread / Average Target 9,9%
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Managers
NameTitle
John J. Legere Chief Executive Officer & Director
G. Michael Sievert President, Chief Operating Officer & Director
Timotheus Höttges Chairman
J. Braxton Carter Chief Financial Officer & Executive Vice President
Neville R. Ray Chief Technology Officer & Executive VP
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