AT&T;, T-Mobile May get Approval in Q1 2012 for Merger
Wednesday, June 22, 2021 9:37 AM

AT&T Inc. (NYSE: T) said that its $39 billion proposal to acquire T-Mobile USA remains on track for approval in the first quarter of 2012.

AT&T General Counsel Wayne Watts told reporters on Tuesday that the regulators' review of the deal thus far had been thorough, fact-based and "exactly as we expected."

The company has supplied the Justice Department with a requested second round of data, and has reviewed the comments of those who oppose the deal. The comment period closed Monday at the Federal Communications Commission. "Here we are the day after those comments are in, and I can tell you I have not been surprised by anything that has happened in that process," Watts said.

On the other hand the proposed deal is facing some criticism from organizations as diverse as Sprint Nextel Corp. (NYSE: S) and recently got vocal in its opposition to the proposed deal. Sprint, on the other hand, told the FCC that AT&T is just being lazy. "AT&T would like to throw T-Mobile’s spectrum at its purported network capacity problem, but there are far more efficient means to meet the rising demand for broadband data services without creating a duopoly. AT&T can start by putting its unused spectrum to use by expediting its LTE deployment and taking common industry steps to accelerate subscriber migration to this far more spectrally efficient technology."

AT&T defends this criticism by saying that the company contends that the merger is necessary to improve service to its customers in the near-term by upgrading a network criticized by consumers for dropped calls and slow data speeds.

Shares of AT&T were trading lower by 0.13 percent to $31.07 in pre-market trading Wednesday.