AT&T May Sell Assets to Rivals to Get T-Mobile Approved
Sep 19, 2011, 7:39 AM by Eric M. Zeman
According to sources cited by Bloomberg, AT&T is talking to its smaller rivals about potential asset sales in order to help its proposed acquisition of T-Mobile USA gain regulatory approval. Bloomberg's sources, which have direct knowledge of the matter, said that AT&T has spoken to MetroPCS, Leap Wireless, CenturyLink, Dish Network, and Sprint Nextel. AT&T's attempt to buy T-Mobile USA has run into a major roadblock in the form of a Department of Justice lawsuit. The Justice Department believes that a merged AT&T and T-Mobile would lead to less choice and higher prices for consumers. Seven U.S. states and Sprint agree, as they have all joined the DoJ's lawsuit or filed ones of their own seeking to block the acquisition. AT&T believes that if it can sell enough assets to rivals, it can satisfy the antitrust concerns of the Justice Department. Bloomberg's sources, however, said that the talks are in preliminary stages and may not pan out. Even if they do, there's no guarantee the Justice Department will accept them. The Federal Communications Commission is still conducting its own investigation into the acquisition.
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