MMC
08-31-2011, 01:29 PM
http://news.yahoo.com/u-files-block-t-purchase-t-mobile-source-145133792.html
Reuters – 28 mins ago.....
WASHINGTON/NEW YORK (Reuters) - The U.S. government sued to block AT&T's $39 billion deal to buy T-Mobile USA because of anti-competition concerns, launching the biggest challenge to a takeover by the Obama administration.
The Justice Department, in a lawsuit filed on Wednesday, said eliminating T-Mobile as a competitor would be disastrous for consumers and would raise prices, particularly because the smaller provider offers low prices.
"Unless this merger is blocked, competition and innovation will be reduced, and consumers will suffer," said Sharis Pozen, acting head of the Justice Department's antitrust division.
The deal also would need the approval of the Federal Communications Commission, which regulates wireless telecommunications. On Wednesday, FCC Chairman Julius Genachowski said he is concerned about the deal's impact on competition.
The lawsuit is the biggest challenge to a takeover by the Obama administration, which includes former AT&T executive William Daley as Commerce Secretary.....snip~
Looks Like Obama will try and stop this.....Think he will be successful? He does even have the FCC waiting to take ATT to court to? Why would he want to stop this knowing we can take out Duetsche Telecom.....a subsidary of Duetsche bank? They bought out the NYSE. So why no did a little damage on them?
Reuters – 28 mins ago.....
WASHINGTON/NEW YORK (Reuters) - The U.S. government sued to block AT&T's $39 billion deal to buy T-Mobile USA because of anti-competition concerns, launching the biggest challenge to a takeover by the Obama administration.
The Justice Department, in a lawsuit filed on Wednesday, said eliminating T-Mobile as a competitor would be disastrous for consumers and would raise prices, particularly because the smaller provider offers low prices.
"Unless this merger is blocked, competition and innovation will be reduced, and consumers will suffer," said Sharis Pozen, acting head of the Justice Department's antitrust division.
The deal also would need the approval of the Federal Communications Commission, which regulates wireless telecommunications. On Wednesday, FCC Chairman Julius Genachowski said he is concerned about the deal's impact on competition.
The lawsuit is the biggest challenge to a takeover by the Obama administration, which includes former AT&T executive William Daley as Commerce Secretary.....snip~
Looks Like Obama will try and stop this.....Think he will be successful? He does even have the FCC waiting to take ATT to court to? Why would he want to stop this knowing we can take out Duetsche Telecom.....a subsidary of Duetsche bank? They bought out the NYSE. So why no did a little damage on them?