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Thread: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

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    DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    DOJ Attempts To Scuttle AT&T's $39B T-Mobile Buy | FoxBusiness.com

    The Department of Justice filed an antitrust lawsuit on Wednesday to block AT&T's (T: 28.05, -1.57, -5.30%) $39 billion planned takeover of T-[COLOR=blue !important][COLOR=blue !important]Mobile[/COLOR][/COLOR] USA due to fears the controversial marriage will create higher prices and fewer options for consumers.
    The DOJ suit comes just hours after AT&T vowed to return 5,000 outsourced calling-center jobs to the U.S. if regulators sign off on the transaction. That promise, AT&T said, represented the greatest pledge by an American company to return jobs to U.S. soil since 2008.
    Hmmm, 5,000 new jobs returning to the US which is struggling to stay out of a double-dip recession and the DOJ blocks it? Good for you Obama! How's that hope and change working out for everyone?

    This is just dumb. The DOJ seems to be picking and choosing who they will side with. Further proof that government needs to stay out of business.

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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Yeah I just read this on CNN. I do not understand the DOJ's logic on this one. I guess they must fear a monopoly on telecommunications?
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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Quote Originally Posted by soccerboy22 View Post
    Yeah I just read this on CNN. I do not understand the DOJ's logic on this one. I guess they must fear a monopoly on telecommunications?
    I think that and the "too big to fail" thing is the reasoning behind this. Whether it is good reasoning or bad I have no idea, but AT&T attempting to bribe the DOJ with that 5k job offer makes me wonder.
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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Quote Originally Posted by Redress View Post
    I think that and the "too big to fail" thing is the reasoning behind this. Whether it is good reasoning or bad I have no idea, but AT&T attempting to bribe the DOJ with that 5k job offer makes me wonder.
    It was a dirty move, but given the economic conditions, the DOJ would be shooting Obama and the Democrats in the foot if they turned it down because it will be perfect fodder for the Republicans.
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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    I agree with the decision. The market is not best served by two massive telecom corporations.

    And on a more anecdotal note, I have found that being an AT&T customer sucks. I can't express sadness that the company might not be allowed to further metastasize.

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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Typically mergers of similar companies results in layoffs, not job creation as redundant positions are eliminated. As for the pledge to bring back 5000 call centre jobs, ATT could do that anyway could it not? If it makes economic sense they will, if it doesnt the pledge is just that a pledge, one that will most likely not be filled
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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Quote Originally Posted by Helix View Post
    I agree with the decision. The market is not best served by two massive telecom corporations.

    And on a more anecdotal note, I have found that being an AT&T customer sucks. I can't express sadness that the company might not be allowed to further metastasize.
    If say GM and Ford merged, I'd see your point. But the problem lies in that there is plenty of competition in the cellular market. There are literally over 180 cellular providers in the US - source, so the angle the DOJ is taking in that it would create a monopoly simply doesn't fly in the face of the facts.

    AT&T is overpriced and they pretty much do suck. I know someone who works in one of their call centers, so I have knowledge of how they run. I'm currently a T-Mobile customer and I could care less either way to be honest.

    As for the 5,000 new jobs promise, I'm a little skeptical as well. There will be layoffs with a merger and how long would these 5,000 jobs remain in place? It is a shot at Obama and his administration and it will be used as campaign fodder for whoever his opponent ends up being. From my perspective, it looks more like the administration is siding with Verizon here more than anything. While both AT&T and Verizon have union employees, the Verizon employees have been on strike. I'm skeptical of the DOJ's angle here in addition to the promise to bring back 5,000 new jobs by AT&T.

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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    The quest for bandwidth
    Editorial
    AT&T sees acquiring T-Mobile as the quickest way to expand its network. But what about consumers?

    The rapidly increasing demand for smartphones and mobile bandwidth has prompted some analysts and regulators to warn of a looming wireless traffic jam — an irritant that some iPhone users in major cities have already experienced. Now, AT&T is proposing what it says is the fastest way to boost the capacity of its wireless network: buying T-Mobile. The $39-billion purchase would eliminate one of the four largest U.S. mobile phone networks and leave just two companies — AT&T and Verizon Wireless — in control of more than 70% of the market. That's reason enough for regulators to take a skeptical view of the deal. Yet AT&T's technical arguments raise the possibility that the acquisition could do more for the burgeoning ranks of smartphone users than the companies are likely to do separately.

    Bandwidth | AT&T and T-Mobile: The quest for bandwidth drives a deal - Los Angeles Times

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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Quote Originally Posted by Hugh_Akston View Post
    If say GM and Ford merged, I'd see your point. But the problem lies in that there is plenty of competition in the cellular market. There are literally over 180 cellular providers in the US - source, so the angle the DOJ is taking in that it would create a monopoly simply doesn't fly in the face of the facts.

    AT&T is overpriced and they pretty much do suck. I know someone who works in one of their call centers, so I have knowledge of how they run. I'm currently a T-Mobile customer and I could care less either way to be honest.

    As for the 5,000 new jobs promise, I'm a little skeptical as well. There will be layoffs with a merger and how long would these 5,000 jobs remain in place? It is a shot at Obama and his administration and it will be used as campaign fodder for whoever his opponent ends up being. From my perspective, it looks more like the administration is siding with Verizon here more than anything. While both AT&T and Verizon have union employees, the Verizon employees have been on strike. I'm skeptical of the DOJ's angle here in addition to the promise to bring back 5,000 new jobs by AT&T.
    What would the market share of ATT/T Mobile after the merger? Anticompetitiveness boards generally see problems when the market share of anyone company gets above 50%. Of course there could be specific localities with less or higher levels of market share that might present an issue. Another factor to consider, most of the smaller cell companies rely on the infrustructure of the majors (including cell towers) to operate. Given the market power and lobbying power of a larger ATT, it could fight to change the regulations seeking to increase the fee chargerd to them
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    Re: DOJ Attempts to Scuttle AT&T's $39B T-Mobile Buy

    Quote Originally Posted by Helix View Post
    I agree with the decision. The market is not best served by two massive telecom corporations.

    And on a more anecdotal note, I have found that being an AT&T customer sucks. I can't express sadness that the company might not be allowed to further metastasize.
    This is ignorance on display. There are a lot more than 2 massive telecoms in the US. The wireless market is filled with AT&T competitors. If they suck that bad they wont grow as cell customers are more demanding than land line customers and a lot more likely to switch companies with less hassle on the customer end. As for the 5000 jobs, without the customer growth from the merger they have no economic reason to add them. They wont do it simply out of charity, they have to have an economic reason to do so.

    The market should decide, not the government---unless and until a monopoly seems to exist and in this case? That dog won't hunt.

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