Breaking: Government moves to block merger between AT&T and T-mobile

[BzaDem]

http://dealbook.nytimes.com/2011/08/31/u-s-moves-to-block-att-merger-with-t-mobile/

"The Justice Department on Wednesday sued to block AT&T’s proposed $39 billion acquisition of T-Mobile, a deal that would create the largest carrier in the country and reshape the industry.

“The combination of AT&T and T-Mobile would result in tens of millions of consumers all across the United States facing higher prices, fewer choices and lower quality products for mobile wireless services,” said Deputy Attorney General James M. Cole.

The complaint, which was filed in the United States District Court in Washington, said that T-Mobile “places important competitive pressure on its three larger rivals, particularly in terms of pricing, a critically important aspect of competition.”

The complaint also highlighted T-Mobile’s high speed network and its innovations in technology, noting that it was the first to use Google’s Android operating system and BlackBerry wireless e-mail, among other things."

--snip--

[mnhtnbb]

1. Good on the DOJ! The talking heads on CNBC are going nuts

[BeyondGeography]

2. The U.S. Government speaks on behalf of its citizens

:patriot:

[nc4bo]

3. I'm honestly shocked, I swear!

Stunned even.

I'm also very glad this is happening.

[trotsky]

4. Great news.

K&R

[RockaFowler]

5. They should have done the same with the Comcast/NBC deal

Maybe they realized the mistake and are now regretting that decision

[drm604]

6. Great News!

:applause:

[texshelters]

7. It's nice to see the DOJ step up for us

for a change when they could have played the "stronger global position" card and approved the merger.

Let's hope this work ethic lasts and that there isn't a worse deal looming.

Peace,
Tex Shelters

[Stuart G]

8. Who would have thought that this deal might

competition?.. :sarcasm:


.What do you know...someone is alive over at the Justice Department...K and R

[backscatter712]

9. AWESOME!!!

About time!