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AT&T Says It Has the Motivation, Cash to Close T-Mobile Deal Fast

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Dec 7, 2011, 3:01 PM   by Eric M. Zeman
updated Dec 7, 2011, 4:43 PM

AT&T CFO John Stephens today reiterated the company's commitment to acquiring smaller rival T-Mobile USA. "We continue to move forward with our efforts to complete the T-Mobile transaction...and we will continue to pursue the sale," said Stephens at a conference in New York. Stephens said the company has amassed $10 billion in cash reserves, a $20 billion bridge, and an $8 billion backup to help it make the $39.5 billion acquisition price. "So we clearly have an ability to close the deal very quickly and have those resources. That is the plan," said Stephens. AT&T believes it can beat the lawsuit it is facing from the Department of Justice, though Stephens wouldn't share the company's strategy for doing so. After the Justice Department's trial concludes, AT&T will still face lawsuits from Sprint and C Spire Wireless.

more info at Reuters »

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Subject Author Date
Good... mycool Dec 7, 2011, 3:04 PM
I'm dying to know why Sprint is so opposed to this. Troll-Bait Dec 8, 2011, 11:32 AM
That's a lot of money Jellz Dec 7, 2011, 3:28 PM
 
 
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