Shares of Sprint (NYSE: S) and T-Mobile (NASDAQ: TMUS) soared after hours after U.S. District Judge Victor Marrer approved the companies merger.
Sprint (S) traded 68% higher in after hours trading, while T-Mobile (TMUS) is up 8% respectively. A journal stated the judge’s decision would be made public on Tuesday.
The companies said the deal was necessary so they can better compete against Verizon (V) and AT&T (T) in the 5G revolution.
The merger had been deliberated for nearly two years, as the third and fourth largest phone carriers in the U.S. were held up over anti-trust laws. There was no further information regarding any concessions that would be made to the $26 billion merger.
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