AT&T Approached MetroPCS, Leap, Sprint, and Dish Network To Sell Spectrum In Order To Protect T-Mobile Deal
AT&T Inc. (NYSE:T) has talked to several smaller rivals including MetroPCS Communications, Inc. (NYSE:PCS) and Leap Wireless International, Inc. (NASDAQ:LEAP) to sell spectrum and subscribers. This is in order to save AT&T’s acquisition of T-Mobile USA for $39 billion.
AT&T also reached out to CenturyLink, Inc. (NYSE:CTL), Sprint Nextel Corporation (NYSE:S), and DISH Network Corp. (NASDAQ:DISH) to see if they were interested in buying assets.
AT&T is also preparing to battle the Justice Department in court. The Justice Department sued AT&T on August 31st in an attempt to stop the deal. If the deal does not work out, AT&T agreed to compensate T-Mobile parent company Deutsche Telekom for $3 billion in cash.