The U.S. Department of Justice has sued to block AT&T’s proposed US$39 billion takeover of T-Mobile. The civil antitrust lawsuit that Justice filed in Washington’s federal court on Wednesday says the deal would substantially diminish competition in the wireless market. AT&T shares fell 5.5 percent after the news broke. The DoJ asked for a court order to block the deal from being implemented due to possible violations of U.S. antitrust laws. With more than 300 million mobile devices in service across the country, AT&T, T-Mobile, Verizon and Sprint control more than 90 percent of the market.
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DoJ Puts Kibosh on AT&T's T-Mobile Plans
Posted by: Rob Spiegel August 31, 2011 12:29 PMThe U.S. Department of Justice has sued to block AT&T’s proposed US$39 billion takeover of T-Mobile. The civil antitrust lawsuit that Justice filed in Washington’s federal court on Wednesday says the deal would substantially diminish competition in the wireless market. AT&T shares fell 5.5 percent after the news broke. The DoJ asked for a court order to block the deal from being implemented due to possible violations of U.S. antitrust laws. With more than 300 million mobile devices in service across the country, AT&T, T-Mobile, Verizon and Sprint control more than 90 percent of the market.