AT&T delays closing date for T-Mobile acquisition

Nov 4, 2011
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AT&T delays closing date for T-Mobile acquisition

AT&T's bid to purchase T-Mobile for $39 billion has been facing plenty of regulatory anti-trust scrutiny and now the target closing date for the acquisition has been pushed further back. Originally expected to complete by the first quarter of 2012, the merger is now estimated to complete sometime in the first half of next year, adding another 3 months to the time table.

Announced by AT&T back in March, the $39 billion acquisition of T-Mobile would see the fourth-largest carrier in the US get gobbled up and the two main GSM-based networks combine into one, a move that many believe would be anti-competitive. However, only one of the two majof CDMA-based carriers have shown strong opposition to the deal and has taken legal action of its own.

Federal regulators and various interest groups have been very vocal against the deal. Back in August, even the Department of Justice, along with seven states, filed an anti-trust complaint, seeking to block the merger. That trial is set to take place on February 13 of next year. AT&T's confidence in a quick close may be dwindling as it filed with the Securities Exchange Commission today the more extended schedule.

[via AP]


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