Wednesday, August 31, 2011

DOJ Files Suit To Block AT&T Buy of T-Mobile

The U.S. Department of Justice said this morning that it is seeking to block the acquisition of T-Mobile by AT&T this morning, because it believes the deal will result in "tens of millions of consumers all across the United States facing higher prices, fewer choices and lower quality products for their mobile wireless services." In a press conference this morning, Deputy Attorney General James M. Cole announced the antitrust filing by the Justice Department, saying that preserving competition among the four remaining mobile carriers is "crucial". Cole cited AT&T and T-Mobile's head-to-head competition in 97 of the nation's largest, 100 cellular marketing areas. Dallas-based AT&T announced the deal to acquire T-Mobile in March.