We told you recently about AT&T’s proposed takeover of T-Mobile USA, the deal which is said to be worth $39 may not get approval from the Federal Communications Commission. The deal will be studied by the FCC, who will want to see if it is the public’s interest.
Lawrence Latif from the Inquirer is reporting in an article, that a FCC official has told the Wall St Journal the deal may encounter problems getting approved. The official said “It will be a steep climb to say the least”. According to the official, the FCC has not even begun formally evaluating the proposed deal yet.
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If the buyout gets the go ahead by the FCC it would make AT&T the largest cell phone operator in the US with 129 million users, and will also become the only GSM carrier in the country. Despite the comments a spokesman for AT&T Michael Balmoris said, “The facts will demonstrate that the deal is in the public interest”, and feels competition will continue to grow.
AT&T has put aside $3 billion to pay T-Mobile’s owners Deutsche Telekom in case the deal falls through, if not approved by the FCC. AT&T may have to wait up to a year before any decision is made though, but deals have gone through before despite FCC officials raising doubts.
Do you hope that the FCC blocks AT&T’s takeover of T-Mobile?