U.S. Justice Department Files Complaint to Block Merger of AT&T and T-Mobile

[dgstorm]

In a surprising twist, the U.S. Department of Justice has filed a complaint to block the sale of T-Mobile to AT&T for $39 Billion. The complaint was filed today in a federal court in Washington D.C. The Justice Department complaint indicated, “AT&T’s elimination of T-Mobile as an independent, low- priced rival would remove a significant competitive force from the market.” The U.S. also said in its filing that the deal would “substantially lessen competition” in the wireless market. Additionally, the Bloomberg article also shared the following,

Should regulators reject the transaction, AT&T would pay Deutsche Telekom $3 billion in cash. It would also provide T-Mobile with wireless spectrum in some regions and reduced charges for calls into AT&T’s network, for a total package valued at as much as $7 billion, Deutsche Telekom said this month.

It is looking grim for the AT&T/T-Mobile merger, and AT&T's stocks are taking a beating because of it. At the time of the Bloomberg article, AT&T shares dropped 96 cents to $28.66.

Source: Bloomberg

[SLAG IT!]

Wow this is interesting. Thanks for keeping us informed. :D

[alphawave7]

Following on the heels of this misstep:
Leaked AT&T Letter Demolishes Case For T-Mobile Merger - Lawyer Accidentally Decimates AT&T's #1 Talking Point | DSLReports.com, ISP Information

[dgstorm]

Wow! That's an awesome find of a story alphawave7! Next time you spot something cool like that, please post it, or PM me and I will write something up. Don't know how I missed that.

Thanks for sharing the info with us.

[redcloud]

This merger means lost jobs, less competition, and another corporation too big to fail!!! AT&T is already at the bottom of the American communications industry. The merger would just make them the worst in the world.

[SLAG IT!]

I found that article about a week ago. And wrote it off as propaganda. Thanks for bringing it forward again.