T-Mobile and Sprint head to court | Calamatta Cuschieri

Market Summary

Maltese market closed in green on Tuesday, with MSE total index ending the session 0.243% higher to 9,415.927 points. Best performer was RS2 Software plc by adding 2.88% to close at 2.14, followed by 0.98% gain of Bank of Valletta plc with closing price 1.03. Biggest and only one fall was seen from International Hotel Investment plc, it slid 1.29% to close at 0.765. HSBC Bank Malta plc, Plaza Centres plc and Santumas Shareholdings plc were active but closed unchanged.

 European stocks finished on a mixed note on Tuesday, buffeted by similarly mixed headlines around the current state of the ongoing US-China trade talks. By the end of trading, the Stoxx 600 had pared earlier losses and was down by just 0.26% at 405.34, as Germany's Dax dipped 0.27% to 13,070.72 and the French CAC 40 put on 0.18% to 5,848.03. Meanwhile, London's FTSE 100 was 0.28% lower at 7,213.76.

US stocks finished below the waterline after a choppy session on Tuesday as market participants remained glued to their screens for any hint of fresh developments in the ongoing US-China trade war. The Dow Jones Industrial Average ended the session down 0.1% at 27.881.72, the S&P 500 lost 0.11% to 3,132.52, and the Nasdaq Composite was 0.07% weaker at 8,616.18.

T-Mobile and Sprint head to court to defend their merger

Attorneys general from more than a dozen states are flexing their legal muscles in a landmark trial that could block T-Mobile's $26 billion merger with Sprint.

The trial, which begins Monday in Manhattan federal court, ranks among the most consequential in the history of the telecommunications industry. It challenges a combination of the third- and fourth-largest wireless providers in America.

In asking a court to prevent the mega deal, a coalition of state officials led by Xavier Becerra, California's attorney general; and Letitia James, attorney general of New York; broke from the US government. Earlier this year, the merger received a green light from the Justice Department and the Federal Communications Commission.

The resulting court battle will determine the future of T-Mobile (TMUS), but if the companies are barred from merging, it could send a warning signal across the business world.

 

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, https://cc.com.mt/. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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