FCC Accuses Sprint of Improperly Collecting Subsidies
Just when T-Mobile (NASDAQ: TMUS) and Sprint (NYSE: S) were feeling good about their proposed $26 billion megamerger -- the companies scored approval from the Department of Justice antitrust division two months ago -- a bombshell allegation from the Federal Communications Commission (FCC) threatens to derail the deal. The FCC had been poised to approve the merger after appearing to secure a third vote of support in May, but a multistate lawsuit filed by a slew of state attorneys general (Pennsylvania joined a few days ago) is still pending.
The FCC is now accusing the No. 4 U.S. carrier of improperly collecting subsidies related to its Lifeline program.
Image source: T-Mobile.
Source Fool.com
