AT&T CEO: Blocking T-Mobile Deal Will Lead to Higher Prices
AT&T CEO Randall Stephenson accused congress of having "an ill-formed regulatory policy when it comes to wireless carriers" at an event held in New York on Thursday. Speaking during an interview with Bloomberg, Stephenson also said, "Regulators can't keep up with the changes in the industry." He said that if the government successfully blocks the deal, it will only lead to higher prices for consumers, because AT&T won't have the capacity needed to handle data traffic volumes as they grow. The Department of Justice has sued AT&T with the intent of blocking the acquisition for antitrust reasons. The Federal Communications Commission recently released a report condemning the acquisition, saying it would lead to less innovation, higher prices, and massive job losses. AT&T maintains the opposite.
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