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Tuesday, September 9, 2014

U.S. FCC will remain skeptical of big wireless mergers -chairman, (NYSE: TMUS)

U.S. Federal Communications Commission will remain skeptical of efforts of top U.S. wireless carriers to merge, the agency's chairman, Tom Wheeler, said in a speech on Tuesday. "I know that achieving scale is good economics, and that there is a natural economic incentive to accrue ever-increasing scale. We will continue to be skeptical of efforts to achieve that scale through the consolidation of major players," Wheeler said, referencing the recently abandoned plan by No. 3 carrier Sprint Corp to purchase No. 4 provider T-Mobile US.

Shares of TMUS fell by 1.43% or $-0.441/share to $30.35. In the past year, the shares have traded as low as $24.50 and as high as $35.50. On average, 4464240 shares of TMUS exchange hands on a given day and today's volume is recorded at 1222685.