AT&T CEO: Divestitures Likely in Wake of T-Mobile Deal
Mar 30, 2011, 10:08 AM by Eric M. Zeman
Speaking at a recent conference, AT&T CEO Randall Stephenson indicated that the company will likely have to drop some markets in order to garner approval of its proposed $39 billion acquisition of T-Mobile. "We anticipate there will be some markets we will have to divest," he said, though he didn't name those markets. AT&T says that it needs to acquire T-Mobile in order to proceed with its 4G roll-out, and plans to use T-Mobile's 1700MHz spectrum (in addition to its own 700MHz holdings) for LTE. According to the Wall Street Journal, Verizon Wireless CEO Dan Mead has already indicated that his company would be interested in acquiring any divested markets/assets. AT&T's Stephenson also took the time to defend the acquisition. "This industry is anything but a duopoly," he said. "The industry is intensely competitive now, and will be intensely competitive after the deal." Sprint disagrees, and said it intends to fight the proposed acquisition. It has already asked the government to block it.
more info at Wall Street Journal »
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