Outlook Likely Positive for Sprint/T-Mobile Approval, Wells Fargo Says

Based on discussions with an antitrust expert in Washington, Wells Fargo analyst Jennifer Fritzsche came away thinking a Sprint/T-Mobile combination would get fair treatment by federal regulators. “The expert we met indicated under the current Administration, merger review would likely move away from being a tool for shaping social policy to a review focused on the merits of each proposed transaction,” Fritzsche emailed investors. “The expert also indicated under prior Republican Administrations, anti-trust review tended to be most concerned with effects of horizontal mergers rather than vertical. In their view, the DOJ merger review would likely not prejudge outcomes on new transactions.”