Posted on 08/31/2011 8:05:45 AM PDT by markomalley
The Justice Department is blocking AT&T’s $39 billion deal to buy T-Mobile USA, saying the acquisition of the No. 4 wireless carrier in the country by No. 2 AT&T would reduce competition and raise prices.
The deal has faced tough opposition from consumer groups and No. 3 carrier Sprint since it was announced in March.
AT&T could challenge the Justice Department’s action in court.
(Excerpt) Read more at dailycaller.com ...
They didn’t give enough to Obama’s re-election campaign?
The AP sucks.
The JD isn’t blocking the merger, they are suing in court to block the merger. They may win, they may lose, they may reach a settled agreement, but they can’t unilaterally block it.
Cancelling the merger will cost AT&T upwards of $5 billion, so they will fight very hard to have it go thru one way or another.
After seeing my previously excellent service with Alltel get whacked after VZW took over, I was against the merger. It’s also why I’m shocked the so-called “justice” dept. is blocking this.
Unless, of course, not enough money has exchanged hands yet. That’s probably the case now that I think about it — not enough promises to give free broadband to the poor, the racially challenged, etc.
I hate being jaded.
Does this mean that MSNBC will now cancel Sharpton’s show..
I agree with this...we don’t need any more “too big to fail” companies.
Yeah, they'll bring back 5000 jobs, and can 20,000 other people.
good.
The list, ping
Let me know if you would like to be on or off the ping list
Holder and Biden must be on the same wavelength..
-OR- riding the same Donkey in the Donkey Rodeo..
Companies will lie to get what they want. They could say they are bringing 50,000 jobs back and back out after they get the deal. Or cut jobs out in other ways. Or outsource another department.
If its not on a contract, a company's word is no good.
If AT&T signed a contract saying they would bring those 5000 Jobs back and then cease all outsourcing activities for 10 years I would believe it. Otherwise its empty air.
Of course that does not preclude us from using the 5000 jobs not coming back against Obama. He is a communist and does still deserve to be labeled at least as an anti-busness liberal.
And here I thought you were a lover of freedom.
Monopolies are not freedom, they are in effect public trusts, because the taxpayer is on the hook when they are threatened with failure. The precedent has been set.
Also realize that the fewer mobile companies, the easier it is for the government to ultimately control that industry.
Monopolies are impossible without government coercion. It's a simple fact of nature. There will always be competition unless the government steps in.
AT&T can go to hell, I want to see AT&T broken up into even smaller pieces than Reagan and Bill Baxter pulled off. Seven pieces clearly wasn’t enough!
Republican DoJ would have done the same.
This is the proper place for the gummint to step in.
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