You know what ALWAYS comes after a merger? Massive lay-offs. There's no reason to merge two companies if they have just as high costs as when they were operating separately, so eliminating now-redundant jobs is the key reason mergers happen. Approving that is going to make Trump look very, very bad.
The merger was always an idiotic idea... Sprint and T-Mobile have no technology in common, nor do their services complement each other in ANY way... Nearly all the company's towers are deployed in proximity to the other's, so they're redundant and most would just have to go. At best, it would be like the MetroPCS buyout... T-Mobile would be buying the brand, stores, and customers, telling them all they need to replace their phones in short order, and shutting off the foreign network they don't want or need to bother maintaining. It really only serves as a legal way to kill-off a competitor.
Of course Sprint just LOVES idiotic ideas. Nextel, WiMax, Clearwire, Tidal, etc. The more obviously idiot the idea, the quicker Sprint is going to jump at it, so they can start burning money even faster.
They clearly think a merger with T-Mobile is a foregone conclusion, because they've completely given-up on improving their network. They announce upgrades, then cut the budget to not just a fraction of what they need to catch-up, but a fraction of what is needed to just maintain parity and avoid falling further behind their competitors. So Sprint's network keeps getting slower and slower.
Some people have been saying it looks like SoftBank is spinning all their valuable assets off to subsidiaries that they control, but which aren't under Sprint, so as the company fails from the lack of investment, the other investors will get nothing, while SoftBank gets to keep or sell-off everything of value. But I believe it's just more of a delaying strategy... Keep Sprint limping along, but perpetually on the edge of failure, in hopes regulators will fear a (too big to fail) bankruptcy, and go along with a merger no matter how bad it looks for every one of the stakeholders involved.
SoftBank made an idiotic investment. Sprint is worth rescuing, but they aren't interested or particularly capable of doing it. They deserve to lose their shirt. Then sell the company to somebody who's actually going to try to build it back up into a viable and competitive cellular carrier again.