U.S. antitrust regulators approved T-Mobile’s $4.4 billion acquisition of UScellular, following the Trump administration’s softer stance on corporate consolidation. The deal includes customers, stores, and 30% of UScellular’s spectrum assets. T-Mobile stocks rose slightly, and UScellular saw a 2% increase after the announcement. The Justice Department stated that customers would benefit from the acquisition.

The Justice Department’s investigation found no competition harms to block the deal, with Gail Slater mentioning UScellular’s inability to keep up with technology investments. However, the acquisition would consolidate more spectrum in the hands of the Big 3 – Verizon, AT&T, and T-Mobile – raising concerns about future competition. T-Mobile and UScellular have not commented on the approval.

Under President Trump, antitrust enforcers have allowed multibillion-dollar deals, diverging from the previous tough stance on consolidation. The Justice Department and Federal Trade Commission cleared three deals totaling $63 billion in June, including Hewlett Packard Enterprise’s $14 billion acquisition of Juniper Networks. This signifies a shift in approach towards corporate mergers.

Read more at Yahoo Finance: Justice Department to allow T-Mobile’s $4.4 billion acquisition of UScellular