AT&T Turns To Rivals To Salvage T-Mobile Deal
Last Updated on Monday, 19 September 2011 07:43 Written by baldalbino Monday, 19 September 2011 01:00
AT&T is turning to its rivals to salvage the T-Mobile deal. The company is seeking to sell off spectrum and customers is order to help save the $39 billion deal. AT&T has reached out to numerous rivals including Sprint, who has viamently opposed the deal. Talks with competitors are all in their infancy stages and may not result in anything.
AT&T was blocked by the Department of Justice on August 31st and is scheduled to meet with the DOJ on September 21st to explore if any deals can be salvaged. Bank of America is outlining potential asset sales should the deal fall through. AT&T has approached Sprint, MetroPCS, Leap, Century Link and Dish network in regards to possible sales.
AT&T will be on the hook for $3 Billion to Deutsche Telekom AG, the owners of T-Mobile USA, if a deal is failed to be reached. AT&T will also surrender spectrum and roaming agreements. If the DOJ agrees that the deal is good, it still must reach approval from the Federal Trade Commission.
- AT&T Said to Seek Asset Sales to Save Bid for T-Mobile (businessweek.com)
- States Join Federal Lawsuit To Block AT&T Merger With T-Mobile (businesslawdaily.net)