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JoTo Out: BREAKING NEWS…U.S. Files Antitrust Complaint to Block AT&T, T-Mobile Merger

Note: We never thought this was a good idea – it was a JoTo Out from day 1!

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Aug. 31 (Bloomberg) — The U.S. government sued to block AT&T Inc.’s proposed $39 billion acquisition of T-Mobile USA Inc., saying the deal would “substantially lessen competition” in the wireless market. The Justice Department complaint was filed today in federal court in Washington. Peter Cook reports on Bloomberg Television’s “InBusiness with Margaret Brennan.”

The U.S. government sued to block AT&T Inc.’s proposed $39 billion acquisition of T-Mobile USA Inc., saying the deal would “substantially lessen competition” in the wireless market. AT&T shares fell as much as 5 percent. Photographer: Stephen Yang/ Bloomberg

In the complaint filed today in federal court in Washington, the U.S. is seeking a declaration that Dallas-based AT&T’s takeover of T-Mobile, a unit of Deutsche Telekom AG (DTE), would violate U.S. antitrust law. The U.S. also asked for a court order blocking any arrangement implementing the deal.

Bloomberg’s article:  T-Mobile Antitrust Challenge Leaves AT&T With Little Recourse on Takeover

Question: Where was the U.S. government with Citibank and Traveler’s merged to Citigroup?  Makes you wonder.


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