US Government Files Antitrust Complaint to Block AT&T,T-Mobile Merger
The US Government’s Justice Department has sued to block AT&T’s proposed $39B acquisition of T-Mobile citing that the merger would “Substantially lessen competition” in the mobile wireless market. The complaint that was filed today in federal court in Washington, DC is seeking to block any part of the AT&T/T-Mobile deal. We will see how this affect a merger that was to affect millions of wireless subscribers.
The Justice Department complaint was filed today in federal court in Washington. The U.S. is seeking a declaration that Dallas-based AT&Ts takeover of T-Mobile, a unit of Deutsche Telekom AG (DTE), would violate U.S. antitrust law and a court order blocking any arrangement implementing the deal.
AT&Ts elimination of T-Mobile as an independent, low- priced rival would remove a significant competitive force from the market, the U.S. said in its filing.
AT&T fell 96 cents to $28.66 at 10:31 a.m. in New York Stock Exchange composite trading.
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