NEW YORK (AP) — The Latest on Sprint-T-Mobile deal (all times local):
Consumer advocacy groups are worried that T-Mobile’s bid for Sprint will likely lead to higher cellphone plans because there’s less competition.
The watchdog group Common Cause says low-income consumers seeking more affordable services will be particularly hurt.
But Mark Lowenstein, a mobile-industry consultant, says the move shouldn’t be seen as a consolidation in the wireless industry. Rather, he says, it’s a new industry structure, with wireless “competing in the larger broadband space.”
The deal announced Sunday would combine the nation’s third- and fourth-largest wireless companies and bulk them up to a similar size to Verizon and AT&T, the industry giants.
Shares of T-Mobile fell 4 percent to .87 in morning trading Monday. Sprint shares fell 17 percent to .65.