Senate Holding T-Mobile/Sprint Merger Hearing In Late June
A U.S. Senate panel will hold a hearing on the proposed merger of T-Mobile and Sprint in late June, Senators Amy Klobuchar and Mike Lee announced. The event is meant to take place on June 27, with its main target being identifying whether the consolidation would truly benefit consumers like the two wireless carriers claim it will, in addition to probing any potential antitrust issues with the suggested tie-up. Previous reports indicated that both Sprint Chief Executive Officer Marcelo Claure and T-Mobile's head John Legere are likely to appear at the hearing. Mr. Legere would lead the combined company in case of a successful merger, whereas Mr. Claure would move to a supporting role, collect a golden parachute payment, and continue fulfilling his responsibilities at Sprint's parent SoftBank. Sprint's CEO is already on his way out, having been elevated to the position of Executive Chairman in early May. He will formally leave his current role tomorrow, with the CEO positi