“The Justice Department has decided to pursue an in-depth investigation of AT&T’s plan to buy of T-Mobile USA, according to a source familiar with the deal,” Diane Bartz reports for Reuters. “Justice Department spokeswoman Gina Talamona declined to confirm that the antitrust division had deepened its probe. ‘Our investigation is ongoing,’ she added.”
“AT&T’s $39 billion bid to buy Deutsche Telekom AG’s T-Mobile USA would concentrate 80 percent of U.S. wireless contract customers in just two companies: AT&T/T-Mobile and Verizon Wireless, a joint venture of Verizon Communications and Vodafone Group Plc.,” Bartz reports. “Because of the size of the AT&T/T-Mobile deal, and because the companies are major players, it was always expected that the Justice Department would take months before signing off on the deal or deciding to challenge it.”
Bartz reports, “The Federal Communications Commission must also approve the deal before it can go forward.”
Read more in the full article here.
Related articles:
Sprint blasts AT&T’s bid to buy T-Mobile USA; urges regulators to block deal – March 29, 2011
AT&T deal to face ‘steep climb’ at FCC – March 24, 2011
Verizon CEO: No interest in Sprint takeover; will not oppose AT&T’s purchase of T-Mobile USA – March 22, 2011
How Apple’s revolutionary iPhone led to the sale of T-Mobile USA – March 22, 2011
Consumer Reports’ publisher sees no ‘justification or benefits’ from AT&T’s purchase of T-Mobile USA – March 21, 2011
Sprint concerned over AT&T’s T-Mobile USA acquisition; complains of antitrust risk – March 21, 2011
T-Mobile: No Apple iPhone just yet after AT&T deal – March 21, 2011
AT&T to buy T-Mobile USA – March 20, 2011
I hope that they block the deal. ATT and Verizon need a couple of smaller market players to help keep them in check.
But I don’t see how the DOJ could block the buyout.
I hope they don’t block it. If it’s not approved T-Mobile will be bought buy someone else for sure and it would just delay this longer and T-Mobile will not invest more into it’s LTE.
AT&T was once broken up, now it simply bought all the parts back, what joke.
Without competition there will never be a free Internet again, never unlimited access.
Really? Nothing better to do? Like investigating Google’s and Microsoft’s abuse of power?
It’s $39 billion folks. The investigation will see some of those funds diverted to grease the squeaky wheels. The deal will go through. Besides, I need T-Mobile taken over so I can have the iPhone.
I’ll put in the word for you.