Statement by FCC Chair Genachowski on AT&T/T-Mobile Deal
- Stocks Tank as QE Nears End, Major Fund Winds Down, and Ebola Fears
- Market Wrap: Private Employment Expands in Sept.; BofA CEO Becomes Chairman; U.S. Secret Service Director Resigns
- Bank of America (BAC) CEO Moynihan Elected as Chairman
- After-Hours Stock Movers 10/01: (RLD) (DRL) (DTV) Higher; (WILN) (NLNK) (PLTA) Lower (more...)
- Investors Yank $23.5 Billion From PIMCO in 3 Days Amid Gross Exit
FCC Chairman Julius Genachowski said, "By filing suit today, the Department of Justice has concluded that AT&T's acquisition of T-Mobile would substantially lessen competition in violation of the antitrust laws. Competition is an essential component of the FCC's statutory public interest analysis, and although our process is not complete, the record before this agency also raises serious concerns about the impact of the proposed transaction on competition. Vibrant competition in wireless services is vital to innovation, investment, economic growth and job creation, and to drive our global leadership in mobile. Competition fosters consumer benefits, including more choices, better service and lower prices."
You May Also Be Interested In
- UPDATE: Masimo Corp. (MASI) Wins $466M Verdict in Philips Trial
- Enterprise Products Partners (EPD) Acquires Oiltanking Partners (OILT) in $4.41B Deal
- Starboard Value LP offers to acquire REALD (RLD) for $12 per share - 13D
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!