A United States judge approved Sprint's proposed $26 billion merger with T-Mobile on Tuesday.
Judge Victor Marrero of the US District Court for Southern New York gave the go-ahead the deal between the two telecommunications companies after 13 attorneys general from states including New York and California filed a lawsuit seeking to block the merger on competition concerns.
The deal, which was reached in 2018 and earlier got the green light from the US Department of Justice and the Federal Communications Commission (FCC), still needs to be approved by the California Public Utilities Commission before the transaction can be completed.
Sprint shares skyrocketed 65% in premarket trading after the ruling was announced, while T-Mobile's stock surged 8.1%.
