The chairman of the Federal Communications Commission took steps Tuesday to block the proposed $39 billion merger of the mobile phone companies AT&T and T-Mobile USA.
The chairman, Julius Genachowski, made the move after the commission’s staff concluded that the deal would harm consumers, kill jobs and result in an overly concentrated wireless phone industry, F.C.C. officials said.
The decision puts another large roadblock in front of AT&T, the nation’s second-largest wireless phone company, in its effort to buy T-Mobile, the fourth-largest carrier. In August, the Justice Department filed a federal antitrust lawsuit to block the merger, saying it would stifle competition
FCC deals serious blow to AT&T and T-Mobile deal
AT&T, with its powerful army of lobbyists and years of experience navigating Washington, thought it could easily persuade the government to approve its merger with T-Mobile. But regulators aren’t buying it, and the $39 billion deal is facing its biggest threat yet.
Federal Communications Commission Chairman Julius Genachowski dealt a serious blow to the merger Tuesday, moving to block the deal on the basis of findings that it would cause job losses and higher prices for consumers, officials said. It was an unusual move for the FCC, which has not tried to block a deal since 2002.
I don't want to be an AT&T customer. :)
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