WASHINGTON — Sprint Nextel urged regulators to block AT&T Inc’s $39 billion bid to buy Deutsche Telekom AG’s T-Mobile USA, saying the merger would harm consumers.
“This transaction is fundamentally anti-competitive, and you can’t fix that with merger conditions,” Charles McKee, Sprint’s vice president of government affairs, federal and state regulatory, told Reuters in a phone interview on Monday.
Sprint, the No. 3 U.S. mobile carrier, already faces tough competition from industry leaders AT&T and Verizon Wireless, a venture of Verizon Communications and Vodafone Group Plc. Combined, AT&T and T-Mobile USA, the No. 4 U.S. operator, would leapfrog Verizon Wireless as the top carrier.
The deal would concentrate 80 percent of U.S. wireless contract customers in just two companies — AT&T/T-Mobile and Verizon Wireless.
http://www.comcast.net/articles/finance/20110328/BUSINESS-US-TMOBILE-ATT-SPRINT/
Does anyone recall that AT&T was broken up into 7 regional carriers to STOP it’s monopolistic service and predatory pricing? That’s been about 80% reassembled. Do we still have a Justice Department?
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