merger

In a critical blow to AT&T's proposed $39 billion merger with T-Mobile USA, federal regulators issued a staff report today that concluded the deal would lead to huge job losses and less competition.

In the 109-page report (PDF), the FCC said that a merger of the two wireless carriers "would substantially lessen competition and its accompanying innovation, investment, and consumer price and service benefits."

The report, which the FCC released this evening despite AT&T and T-Mobile's objections, also accused the carriers of making misleading statements about the benefits of the merger.

"… Read more

AT&T suffered a minor blow to an already-hobbled campaign to acquire T-Mobile USA today, when the Federal Communications Commission decided that it would share its concerns about the deal.

The FCC plans to release a staff report detailing the concerns, according to The Wall Street Journal. AT&T did, however, win approval from the FCC to withdraw its application for the $39 billion acquisition.

The decision comes after AT&T on Thursday opted to withdraw the application and take a $4 billion charge to cover the possibility that the deal falls apart. The move sparked a … Read more

With AT&T's deal to acquire T-Mobile USA on life support, T-Mobile may need to start considering a Plan B.

By itself, T-Mobile is a wireless operator struggling to keep its best customers from leaving. Over the past several months, the carrier has aggressively cut prices and made itself a haven for bargain seekers--all for the sake of sparking a little growth. As a result, it resembles more of large prepaid carrier than one of the traditional national players.

But with the promised breakup fee from AT&T if the deal isn't approved, including $3 billion … Read more

AT&T's foundering bid to acquire T-Mobile could hinge on a last-minute deal with a second-tier wireless operator, Leap Wireless, to try to allay regulators' antitrust concerns.

That's according to a New York Times report last night, which said AT&T is "knee deep" in talks that would mean both T-Mobile customers and wireless spectrum would be sold to Leap.

Leap is one of a handful of players that might be interested in T-Mobile assets, my colleague Maggie Reardon reports in her FAQ about AT&T's troubles trying to buy T-Mobile. Leap … Read more

AT&T's chances of completing its $39 billion acquisition of T-Mobile USA are quickly fading as regulatory opposition to the deal mounts and the wireless giant's efforts to keep the deal on track smell of desperation.

The merger, announced in March, has been in trouble since this summer when the U.S. Department of Justice sued AT&T to block the deal. But things got uglier last week when the Federal Communications Commission said it would try to block the deal. Even though AT&T has vowed to fight on, it looks like the company … Read more

AT&T's chances of closing its $39 billion deal to buy T-Mobile USA are looking pretty slim as the FCC chairman officially expresses opposition to the deal. But how long will AT&T fight to keep the merger alive?

On Tuesday, Federal Communications Commission Chairman Julius Genachowski began circulating a draft order recommending to the other four FCC commissioners that the agency refer the case to an administrative law judge.

While details of the chairman's report assessing the merger have not been made public, officials told reporters on a conference call that in 99 out the … Read more

The chairman of the Federal Communications Commission doesn't believe that AT&T's proposed $39 billion deal to acquire T-Mobile USA is in the public interest. And he's asking the other four commissioners to approve an administrative hearing, in which AT&T would have to prove otherwise.

The Wall Street Journal first reported on Tuesday that Chairman Julius Genachowski was considering such action.

The move by the chairman would put yet another hurdle in the way of the merger, which is already being challenged by the U.S. Department of Justice. The DOJ has filed a … Read more

Motorola Mobility's shareholders have overwhelmingly voted to approve Google's $12.5 billion acquisition of the company.

During a special stockholders meeting today, about 99 percent of the shares voting today approved adoption of the merger agreement, the company said. Those shares represent approximately 74 percent of the company's outstanding common shares.

"We are pleased and gratified by the strong support we have received from our stockholders, with more than 99 percent of the voting shares voting in support of the transaction," Motorola Mobility CEO Sanjay Jha said in a statement.

The merger was originally expected … Read more

U.S. Attorney General Eric Holder told lawmakers today that the Justice Department's antitrust division is "ready and eager" to pursue its lawsuit and stop AT&T's acquisition of T-Mobile USA.

Holder said the division is "committed to seeing this through," Reuters reported today. Holder was speaking at an oversight meeting with the Judiciary Committee's antitrust panel.

In August, the Justice Department sued to block the proposed $39 billion merger, putting the brakes on what many in the industry assumed to be a done deal. The Justice Department cited concern over competition … Read more