The AT&T/T-Mobile Merger Is Dead…..
As we heard earlier today that AT&T and T-Mobile couldn’t find buyers for assets that could help make their merger a reality, but now there’s no need to worry about it: AT&T has just announced that the deal is officially dead.
In a recent release (reproduced in full below), AT&T points at the FCC and the U.S. Department of Justice, and states that the actions of the two parties “do not change the realities of the U.S. wireles industry.”
Singel-Minded: Why Feds Are Right to Block AT&T, T-Mobile Merger
ANALYSIS – The feds unexpectedly walked into a federal court Wednesday to file a lawsuit seeking to block AT&T from buying T-Mobile for $39 billion.
Though you’ll likely hear a lot of bitching and moaning about the move from politicians in the coming days, this is best thing to come out of Washington, D.C., since the Do-Not-Call list.
For those who haven’t been watching, AT&T is seeking to become the nation’s largest wireless carrier by outright buying T-Mobile, the nation’s fourth largest carrier. AT&T says the merger will help with its urban congestion problems, let it hire more people and allow it to extend 4G to more than 97.3 percent of the population (current plan is 80 percent).
Government sues to block T-Mobile-AT&T deal
The public have spoken and the feds they listened, Oh yer baby….
WASHINGTON — The Justice Department filed suit Wednesday to block AT&T’s $39 billion deal to buy T-Mobile USA on grounds that it would raise prices for consumers.
The government contends that the acquisition of the Bellevue-based No. 4 wireless carrier in the country by No. 2 AT&T would reduce competition and that would lead to price increases.
At a news conference, Deputy Attorney General James Cole said the combination would result in “tens of millions of consumers all across the United States facing higher prices, fewer choices and lower quality products for mobile wireless services.”
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