AT&T CEO Warns of Higher Prices in Wake of T-Mobile Failure
May 3, 2012, 7:55 AM by Eric M. Zeman
AT&T CEO Randall Stephenson said that consumers should expect to see the price of wireless services increase, which he attributes to the company's failed bid to purchase T-Mobile USA. Speaking at the Milken Institute's conference on Wednesday, Stephenson said that the wireless market can't sustain the current number of competitors and that consolidation would have helped. The FCC and Department of Justice blocked AT&T's attempt to purchase T-Mobile USA last year. AT&T has already raised some fees charged to consumers this year, but Stephenson didn't spell out any specific future price increases.
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