AT&T and Deutsche Telekom ask court for more time to study options
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AT&T has just released a statement saying that it has joined with T-Mobile parent Deutsche Telekom and the Department of Justice in requesting a stay of all court proceedings relating to its proposed $39 billion purchase of T-Mobile until January 18th, 2012. With the DOJ signing off on the request, Judge Huvelle should have no problem agreeing to the motion.
In the release AT&T says that it wants to "find a solution that is in the best interests of our respective customers, shareholders and employees, and will be "actively considering whether and how to revise our current transaction to achieve the necessary regulatory approvals so that we can deliver the capacity enhancements and improved customer service that can only be derived from combining our two companies’ wireless assets."
AT&T could decide to turn the purchase into a joint venture. The carrier can also simply choose to walk away from what has turned into a legal headache, but will have to give Deutsche Telekom $3 billion and $1 billion in spectrum. Or, it could decide to simply continue the fight that it has been waging in both court and the court of public opinion for months.
source: AT&T via Phonescoop
In the release AT&T says that it wants to "find a solution that is in the best interests of our respective customers, shareholders and employees, and will be "actively considering whether and how to revise our current transaction to achieve the necessary regulatory approvals so that we can deliver the capacity enhancements and improved customer service that can only be derived from combining our two companies’ wireless assets."
AT&T could decide to turn the purchase into a joint venture. The carrier can also simply choose to walk away from what has turned into a legal headache, but will have to give Deutsche Telekom $3 billion and $1 billion in spectrum. Or, it could decide to simply continue the fight that it has been waging in both court and the court of public opinion for months.
source: AT&T via Phonescoop
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7 Comments
1. Alantef posted on 12 Dec 2011, 14:44 1
how about stop and let google or someone else buy tmobile
6. Lucas777 posted on 12 Dec 2011, 22:23 0
oh ya great idea.. lets just give google control over a manufactuer, software maker, and cell service provider and see how well tmobile fares… let att buy tmobile… as an att member it means more coverage and a better networl
4. bbstorm2435 posted on 12 Dec 2011, 16:09 0
How is this a victory? All that is happening is they are taking time to possibly come up with a deal that would be easy to argue in the courts and possibly get their way. A victory would be if AT&T decided to drop the deal altogether. This isn't a victory...
5. InspectorGadget80 posted on 12 Dec 2011, 17:26 1
AT&T should at least STUDY HOW TO light up MORE LTE NETWORKS around the U.S. instead of wasting their billions of dollars in courts trying to merge with T-Mobile.
