Rubber Stamp Unlikely for AT&T-Mobile
The Federal Communications Commission hasn’t yet begun to evaluate AT&T’s proposed acquisition of T-Mobile USA, but according to officials, regulatory approval of the $39 billion deal is anything but a sure thing. “There’s no way the chairman’s office rubber-stamps this transaction,” an FCC official told The Wall Street Journal. “It will be a steep climb to say the least.”
Obviously. Though it’s interesting to hear an FCC official say that on the record. During an appearance at CTIA earlier this week, FCC Chair Julius Genachowski declined comment on the deal, which is burdened by all sorts of competitive concerns.
AT&T, which has been spinning the acquisition as a boon for Americans and their country, says it’s confident it will win approval. “We understand that Congress, the DOJ, the FCC, as well as wireless consumers will have questions about the transaction. We look forward to answering and addressing those questions,” said a company spokesman. “We are confident that the facts will demonstrate that the deal is in the public interest and that competition will continue to flourish.”