FCC to let AT&T pull merger application2011-11-30 10:08 by DanielaTags: FCC, AT&T, T-Mobile
Today the U.S. Federal Communications Commission released a 157-page report [PDF] detailing its position on AT&T's proposed acquisition of T-Mobile USA. The report was released after the FCC accepted the withdraw of AT&T's request for approval of the $39 billion deal. According to the report, AT&T and T-Mobile "have failed to meet their burden of demonstrating that the competitive harms that would result from the proposed transaction are outweighed by the claimed benefits," the staff report said. "The potential loss [of T-Mobile as a] competitive force in the market is a cause for serious concern." AT&T called the release of the report "troubling." The report is an internal document meant to raise questions before a hearing before an administrative law judge, the company said. The next step for the FCC would have been an administrative hearing if AT&T had continued to pursue the license transfer application. Read the full Reuters story -here-
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