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California AG drops challenge to T-Mobile-Sprint merger
Sprint, T-Mobile revise merger terms; Gap makes major changes
Fox Business Briefs: T-Mobile and Sprint have agreed on new terms for their deal after overcoming a federal court challenge; Gap joins forces with ThredUp, a popular resales platform, in an effort to boost sales.
NEW YORK — California’s attorney general said Wednesday that the state will not appeal a judge’s decision approving T-Mobile's $26.5 billion purchase of Sprint, bringing the companies closer to creating a new wireless giant on par with AT&T and Verizon in size.
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Attorney General Xavier Becerra and New York Attorney General Letitia James led a coalition of 14 state attorneys general who sued to stop the deal. They had argued that eliminating a major wireless company would harm consumers by reducing competition and adding billions of dollars to phone bills.