U.S. Markets closed

Lawmakers says T-Mobile acquisition of Sprint needs scrutiny over China ties: report

Max A. Cherney

T-Mobile US Inc.'s (tmus) plan to buy Sprint Corp. (s) requires close scrutiny over Sprint's owner SoftBank Group Corp. (jp:9984) and its ties to the Chinese telecom firm Huawei Technologies Co., say U.S. lawmakers, according to a Bloomberg News report. Ahead of the July 4 trading holiday in the U.S., Sprint stock is down 0.2% in after hours trading and T-Mobile shares are flat. Lawmakers are circulating a draft letter to Treasury Secretary Steve Mnuchin, who is set to head the national security review of the T-Mobile-Sprint deal, according to Bloomberg.