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Wed August 31, 2011
Justice Dept. Sues To Block AT&T's Acquisition Of T-Mobile
The Justice Department just confirmed that it has "filed a civil antitrust lawsuit to block AT&T Inc.'s proposed acquisition of T-Mobile USA Inc."
In the department's view, "the proposed $39 billion transaction would substantially lessen competition for mobile wireless telecommunications services across the United States, resulting in higher prices, poorer quality services, fewer choices and fewer innovative products for the millions of American consumers who rely on mobile wireless services in their everyday lives."
The suit has been filed in U.S. District Court for the District of Columbia.
There's no response yet from the companies.
Earlier today, Morning Edition reported that AT&T, in one bid to convince regulators to OK the deal, "is promising to bring back 5,000 call center jobs that are now overseas."
Update at 11:45 a.m. ET:
Bloomberg News says that "Philipp Schindera, a spokesman at Bonn-based Deutsche Telekom [which owns T-Mobile], declined to immediately comment on the filing. ... Michael Balmoris, an AT&T spokesman, didn't immediately respond to an e-mail and phone calls seeking comment."