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UPDATE 1-US FCC approves T-Mobile deal to buy budget provider Mint Mobile [Yahoo! Finance]
Last t-mobile us, inc. earnings: 2/6 04:01 pm
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US:NYSE Investor Relations: investor.t-mobile.com
Federal Communications Commission said on Thursday it will approve the T-Mobile US deal to buy Ka'ena Corp, the owner of budget service provider Mint Mobile, for up to $1.35 billion. The FCC cited T-Mobile's voluntary agreement to implement a 60-day unlocking period for all Mint Mobile and Ultra Mobile devices activated on the T-Mobile network before and after the closing. The FCC said the agreement will make it easier for Mint Mobile and Ultra Mobile customers to switch service providers. T-Mobile said after receiving regulatory approval that it now expects to close the deal on May 1. T-Mobile announced the deal to buy the owner of Ryan Reynolds-backed budget service provider in March 2023, saying it would allow the company to tap a larger share of the pay-as-you-go customer base. The agreement consists of 39% cash and 61% stock, with the final purchase price set to be decided by Ka'ena's performance during certain periods before and after the closing of the deal, T-Mobile sa
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