US seeks to block AT&T takeover of T-Mobile

WASHINGTON: The US Justice Department will seek to block AT&T's proposed $39 billion acquisition of T-Mobile, The Wall Street Journal reported on Wednesday (31 August 2011).
US seeks to block AT&T takeover of T-Mobile

The Justice Department scheduled a press conference for 11am (15:00 GMT) in Washington to discuss a "significant antitrust matter" but did not say what it was about.

AT&T's proposed takeover of T-Mobile, the US unit of Germany's Deutsche Telekom, has come in for criticism from some members of the US Congress and others on the grounds it would harm competition.

Verizon currently holds a 31% share of the US wireless subscriber market followed by AT&T with 27%.

Adding T-Mobile's 37.3 million customers would give AT&T a 39% share of the market, putting it ahead of Verizon and Sprint Nextel, which had also expressed interest in acquiring T-Mobile.

Source: AFP


 
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