T-Mobile과 Sprint 합병의 정책적 함의

Implications of T-Mobile and Sprint Merger: Focusing on the Analysis of the Consent Judgment

(Purpose) In the recent merger between mobile carriers in the U.S, the DOJ's claim and D.C. court's consent judgment analyzed the requirements to be considered in the merger review between mobile carriers. This case was conditionally approved for the merger, even though it is a merger plan that brought the three oligopoly in the market. The purpose of this article is to analyze the reasons for approving this merger. (Design/methodology/approach) We reviewed the horizontal merger guidelines of the U.S. DOJ and FTC firstly, and figured out the pros and cons of the DOJ and scholars on the merger of T-Mobile and Sprint. It reviewed the claims of the companies involved in the merger, and the contents of the court's consent judgment. (Findings) In this case the court finally approved it, taking into account the following points: ① this merger with third and fourth companies does not strengthen the market power of top operators, ② the management, which has been engaged in business activities as Maverick, continues to manage as it is, ③ coordinated conduct is not as worrisome as the AT&T/T-Mobile case, and ④ the merger of this case has the effect of promoting competition and the purpose of industrial policies that promote the establishment of 5G networks. (Research implications or Originality) This study derived the following policy implications: the introduction and spread of new technologies or new industries can play a significant role as an approval factor in high-tech industries, and concerns about coordinated conduct are also importantly considered as factor for rejection of merger.