AT&T Reaches Out to Rivals for Sake of T-Mobile Merger
September 19, 2011 5:01 PM
AT&T is approaching smaller rivals such as Sprint and MetroPCS to sell spectrum and subscribers
Having recently learned that
seven U.S. states
joined the Department of Justice's (DOJ) effort to prevent the AT&T/T-Mobile merger, AT&T is now attempting to rescue its $39 billion deal by reaching out to smaller rivals like Sprint and MetroPCS.
AT&T announced its
$39 billion purchase
of T-Mobile from Deutsche Telekom AG in March 2011. Since then, AT&T has had trouble convincing the government that the merger would not kill competition and negatively affect consumers. On August 31, the DOJ filed a lawsuit against AT&T in an effort to terminate the deal, which it says would be anticompetitive.
Along the way, AT&T
from the Louisiana Public Service Commission as well as 11 state attorneys general, but also gained opposition from seven other U.S. states recently.
Now, AT&T is approaching smaller rivals in an effort to sell spectrum and subscribers, according to
. Some of the rivals that AT&T reached out to were MetroPCS Communications, Leap Wireless International Inc., Sprint Nextel Corp., CenturyLink Inc. and Dish Network Corp.
filed an antitrust lawsuit
against AT&T on September 6 to kill the merger, showing strong opposition to the deal that could kill competition such as itself.
AT&T is set to meet the DOJ in court on September 21. AT&T asked for an expedited hearing for the case because it will be required to pay a $6 billion penalty if the case isn't settled by September 2012.
Even if the case is settled with the DOJ, AT&T must also seek approval from the Federal Communications Commission for the merger to be complete. Otherwise, AT&T must pay Deutsche Telekom $3 billion in cash as well as wireless spectrum and roaming agreements.
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
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