T-Mobile
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its largest shareholder is Deutsche Telekom AG, a company partially owned by the Federal Republic of Germany,[1] which owns and operates telecommunications networks in several other countries.[2] T-Mobile is the second largest wireless carrier in the United States, with 127.5 million subscribers as of September 30, 2024.[3]
| Basic information | |
|---|---|
| Founded | 1994 |
| Type | Public |
| Industry | Telecommunications |
| Official website | https://t-mobile.com/ |
Deutsche Telekom was sued by the US Securities and Exchange Commission in 2011 for bribing government officials in Macedonia and Montenegro to prevent a telecom competitor from acquiring a license and for their support in the buyout of a state-owned telecommunications company. DT and its subsidiary, Magyar Telekom, agreed to pay a total $95 million settlement.[4]
Acquisition of Sprint edit
On April 1, 2020, T-Mobile US acquired Sprint Corporation for $26 billion.[5] Prior to the formal acquisition, 14 state attorney generals filed suit to block the merger alleging it would result in higher prices for consumers to the extent of $4.5 billion annually.[6] The merger was allowed to proceed following the judge for the case stating "the merger is not likely to substantially lessen competition like the suing state AGs had claimed it would" and also that Sprint "does not have a sustainable long-term competitive strategy [to remain a viable competitor]."[7] As one of the leaders of the suit, the attorney general of California struck a settlement, gaining several substantial concessions toward protecting Californian jobs and low cost mobile plans.[8]
The United States Department of Justice Antitrust Division required that Sprint sell several billion dollar assets to Dish Network prior to merging with T-Mobile.[9]
As of September 30, 2024, a T-Mobile filing with the SEC indicates multiple ongoing legal cases and consumer class action cases alleging antitrust activities, chiefly as it relates to T-Mobile's acquisition of Sprint.[10] As an example, Dale et al. v. Deutsche Telekom AG, et al., filed in 2022, seeks damages in the billions due to "anticompetitive effects" (i.e. higher prices) as a result of the merger.[11]
References edit
- ↑ Shareholder structure | Deutsche Telekom
- ↑ sec.gov/Archives/edgar/data/946770/000104746906003393/a2168127z20-f.htm#bk1005_significant_subsidiaries
- ↑ TMUS 09/30/2024 EX 99.1
- ↑ SEC Charges Magyar Telekom and Former Executives with Bribing Officials in Macedonia and Montenegro; Release No. 2011-279; December 29, 2011
- ↑ https://www.nytimes.com/2018/04/29/business/dealbook/sprint-tmobile-deal.html
- ↑ U.S. judge sets pre-trial hearing next week for Sprint/T-Mobile deal
- ↑ Judge approves T-Mobile-Sprint merger - TmoNews
- ↑ California AG Xavier Becerra will not appeal judge's T-Mobile-Sprint merger ruling - TmoNews
- ↑ Justice Department officially approves T-Mobile and Sprint's merger - TmoNews
- ↑ sec.gov/Archives/edgar/data/1283699/000128369924000142/R22.htm
- ↑ Dale v. Deutsche Telekom AG, 22 C 3189 (N.D. Ill. Oct. 4, 2024)