U.S. Files Complaint to Block AT&T, T-Mobile Merger

[aGameOfThrones]

The U.S. sued to block AT&T Inc. (T)’s proposed $39 billion takeover of T-Mobile USA Inc., saying the deal would “substantially lessen competition” in the wireless market. AT&T shares fell as much as 5.5 percent.

In the complaint filed today in federal court in Washington, the Justice Department is seeking a declaration that Dallas-based AT&T’s takeover of T-Mobile, a unit of Deutsche Telekom AG (DTE), would violate U.S. antitrust law. The U.S. also asked for a court order blocking implementation of the deal.

“AT&T’s 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.

http://www.bloomberg.com/news/2011-08-31/u-s-files-antitrust-complaint-to-block-proposed-at-t-t-mobile-merger.html

[youngbuck]

I would prefer T-Mobile to stay independent. I've had good luck with them as my carrier, and bad luck with AT&T in the past...

[kpitcher]

Since the telco firms are far from being independent of government handouts I'm alright with the feds stepping in on this. It's actually surprising as usually the big telco gets the laws, handouts, and taxes to do anything they want. Last I knew they'd had been given 300 billion to give every american broadband (http://www.newnetworks.com/broadbandscandals.htm)- real fiber broadband, not low speed DSL. I wouldn't be surprised if the 300 billion has been the primary reason Verizon has been selling their landline businesses. If they no longer own the lines they won't have to worry about ever completing their contracts or paying back the money for breaches.

[HOLLYWOOD]

Whata fuckin Joke...

What about JPM? aka (J.P. Morgan & Co. (http://en.wikipedia.org/wiki/J.P._Morgan_%26_Co.), Chase Manhattan Bank (http://en.wikipedia.org/wiki/Chase_Manhattan_Bank), Bank One (http://en.wikipedia.org/wiki/Bank_One), Bear Stearns (http://en.wikipedia.org/wiki/Bear_Stearns), Washington Mutual (http://en.wikipedia.org/wiki/Washington_Mutual), Chemical Bank (http://en.wikipedia.org/wiki/Chemical_Bank), Manufacturers Hanover (http://en.wikipedia.org/wiki/Manufacturers_Hanover), First Chicago Bank (http://en.wikipedia.org/wiki/First_Chicago_Bank), National Bank of Detroit (http://en.wikipedia.org/wiki/National_Bank_of_Detroit), Texas Commerce Bank (http://en.wikipedia.org/wiki/Texas_Commerce_Bank), Providian Financial (http://en.wikipedia.org/wiki/Providian_Financial) and Great Western Bank (http://en.wikipedia.org/wiki/Great_Western_Bank) BORG Assimulations)

What did JPM do in revenue last year? like $103 BILLION $17 Billion in Net Profits after exorbitant bonuses and payouts and huge felony fines.

US Justice Department yeah, bought and paid for...

[Brian4Liberty]

I would prefer T-Mobile to stay independent. I've had good luck with them as my carrier, and bad luck with AT&T in the past...

AT&T constantly drops calls in my area. T-Mobile is supposed to be very good. This acquisition would make customers suffer.

[muh_roads]

They sure had no problem letting Wells Fargo & Wachovia join evil hands together.

[Becker]

They sure had no problem letting Wells Fargo & Wachovia join evil hands together.

i think the key difference was that Wachovia had solvency issues.