DOJ approves $26 billion T-Mobile and Sprint deal

Well, it's finally official. After more than a year in regulatory limbo, The United States Justice Department has approved a $26 billion dollar deal between mobile carriers T-Mobile and Sprint.

Here's the official announcement from DoJ.

Department of JusticeOffice of Public AffairsFOR IMMEDIATE RELEASEFriday, July 26, 2019

Justice Department Settles with T-Mobile and Sprint in Their Proposed Merger by Requiring a Package of Divestitures to Dish

Divestiture Will Enable DISHs Entry as a Fourth Nationwide Facilities-Based Wireless Competitor and Expedite Deployment of High-Quality 5G for American Consumers

The Department of Justice announced today that it and the Attorneys General for five states reached a settlement with T-Mobile and Sprint regarding their proposed merger. The settlement requires a substantial divestiture package in order to enable a viable facilities-based competitor to enter the market. Further, the settlement will facilitate the expeditious deployment of multiple high-quality 5G networks for the benefit of American consumers and entrepreneurs.

The Departments Antitrust Division, along with the offices of five state Attorneys General (Plaintiff States), filed a civil antitrust lawsuit today in the U.S. District Court for the District of Columbia to block the proposed transaction. At the same time, the Department and the Plaintiff States filed a proposed settlement that, if approved by the court, would resolve the Departments and the Plaintiff States competitive concerns. The participating state Attorneys General offices represent Nebraska, Kansas, Ohio, Oklahoma, and South Dakota.

Under the terms of the proposed settlement, T-Mobile and Sprint must divest Sprints prepaid business, including Boost Mobile, Virgin Mobile, and Sprint prepaid, to Dish Network Corp., a Colorado-based satellite television provider.