The FCC Is Seeking An Administrative Hearing On AT&T’s Acquisition of T-Mobile
The Federal Communications Commission is seeking an administrative hearing for AT&T’s $39 billion acquisition deal for T-Mobile USA from Deutsche Telekom AG. The administrative hearing was decided by FCC chairman Julius Genachowski. This hearing is add-on litigation for AT&T and T-Mobile, who have already been dealing with the Justice Department in a lawsuit.
The hearing with the FCC would happen at the end of the antitrust trial with the Justice Department. The last time that the FCC extended the time to look at a deal was in 2002 when EchoStar and DirecTV merged.
“The FCC’s action today is disappointing,” stated AT&T. “It is yet another example of a government agency acting to prevent billions in new investment and the creation of many thousands of new jobs at a time when the US economy desperately needs both. At this time, we are reviewing all options.”
[WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry