Thursday, September 01, 2011
Justice Department Blocks AT & T Merger with T-Mobile
According to the Justice Department, the T-Mobile acquisition "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."
T-Mobile parent Deutsche Telekom AG of Germany is well-protected if the deal collapses because AT&T has agreed to pay $6 billion in cash and other considerations if the deal fails to clear regulatory review. (WSJ, 9/1/2011)