LAS VEGAS (CNN) — A massive, $26 billion telecom deal, years in the making, has been approved. A federal judge ruled Monday that T-Mobile and Sprint, the nation’s third and fourth-largest wireless carriers, will be allowed to merge.
Efforts have dragged on for years to bring the two companies together. The judge said in his ruling he did not think the companies “would pursue anti-competitive behavior,” which rejected the lawsuit by a dozen U.S. states.
The new company will keep the T-Mobile name. Sprint’s stock soared more than 70 percent after the ruling, and T-Mobile shares spiked 12 percent in early trading on Tuesday.
The deal could be finalized in early April of this year.
The companies say the merger will employ 11,000 more full-time people than the standalone companies would have over the next four years.