MoffettNathanson Thinks T-Mobile/Sprint Is More Likely Than Not to Fail
Because of evolving politics, MoffettNathanson’s Craig Moffett said T-Mobile’s buy of Sprint looks more likely to fail than be approved by DOJ and the FCC. Moffett cited the 16 states that appear poised to sue to block the deal. The…
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politics matter, he told investors Tuesday: “If the DOJ and FCC approve the transaction, the approval would almost certainly be branded as both ‘Republican’ and ‘pro-business/anti-consumer.’” Moffett said he previously pegged approval as 50 percent likely. Moffett said the odds may be even lower than his revision down to 33 percent, but a lot of questions about the politics remain. Sprint's price has dropped from a high of $6.44, to $5.62 on Tuesday, indicating the market also is betting against approval, he said.