T-Mobile and Sprint on Monday extended the deadline for their proposed $26 billion merger, allowing more time for Department of Justice and Federal Communications Commission approval of the deal.
The companies revealed the extension in a filing with the Securities and Exchange Commission, reports Reuters. The new deadline is July 29.
The two wireless carriers’ original merger proposal was announced a year ago Monday, and set a one-year deadline for an agreement and clearing regulatory review. Yesterday’s extension give things an extra three months to work out.
The deadline was likely extended due to government officials still being in talks with the two companies and are continuing to request information as they work to reach a decision.
Makan Delrahim, head of the DOJ’s antitrust division, told CNBC that meetings are ongoing.
“I have not made up my mind,” Delrahim said. “The investigation continues. We’ve requested some data from the companies that will be forthcoming. We don’t have a set number of meetings or a timeline.”
The T-Mobile and Sprint proposal would merge the number three and number four U.S. wireless carriers, creating a single entity that would better be able to compete against Verizon and AT&T.
Earlier this month it was reported that the merger was unlikely to receive approval from the DoJ and state attorneys as it is currently structured. T-Mobile CEO John Legere termed the story “untrue.”
