REUTERS:

The U.S. Federal Communications Commission said on Thursday it will approve the T-Mobile US (TMUS.O), opens new tab 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.

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reuters.com

Posted By: Brink
26 Apr 2024