Hold the phone! DoJ suing to block AT&T/T-Mobile merger!

Feds Sue to Block AT&T/T-Mobile Merger
by Associated Press | Aug 31, 2011 10:54 AM ET

WASHINGTON — The federal goverment is suing to block AT&T’s planned merger with T-Mobile, according to a report on Bloomberg News.

Saying the deal would “substantially lessen competition” among wireless providers, the Department of Justice is trying to block AT&T’s proposed $39 billion acquisition of T-Mobile USA on antitrust grounds.

“AT&T’s elimination of T-Mobile as an independent, low- priced rival would remove a significant competitive force from the market,” the U.S. said in its filing.

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