Deals
Lawmakers Tell T-Mobile, Sprint Chiefs That Deal Raises Red Flags
- T-Mobile’s Legere and Sprint’s Claure appear at House panel
- Washington is vetting combination of No. 3 and No. 4 providers
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Lawmakers criticized T-Mobile US Inc.’s proposed $26.5 billion purchase of Sprint Corp. as company leaders -- and the deal -- faced a new Democratic-led House.
The merger would bring market concentration to “a level that raises lots of red flags,” said Representative Mike Doyle, the Pennsylvania Democrat who’s chairman of the House communications subcommittee, during the hearing Wednesday on Capitol Hill. He cited the prospect of higher prices and less competition if the deal gets regulatory approval.