New Street Sees Some Negative Tea Leaves for T-Mobile/Sprint

New Street Research said a review of filings on T-Mobile buying Sprint shouldn’t be “comforting for those who think a decision is near or nearly certain to be favorable.” The ex parte filings provide the best evidence of what is being examined at the FCC, and by extension, DOJ, New Street said. “We have not yet seen any robust filings on conditions, suggesting that as least so far, the policy makers have not signaled to opponents that they are favorably inclined but would like to know what conditions could ameliorate what they regard as minor harms,” the firm emailed investors Sunday. “We also have not seen new filings on the ‘cable-as-competitor argument’ or the argument that Sprint can’t compete in a 5G world. We interpret the absence to suggest those arguments weren’t working so the advocates are not spending time on them.” The companies didn't comment.