AT&T And T-Mobile USA Put Their Proposed Merger Talks On Hold, For Now
The biggest proposed merger of this millennium is being postponed. AT&T and Deutsche Telekom advised Judge Huvelle this morning that they wish to stay any further Court proceedings until January 18, 2012, to allow the two companies time to evaluate all options. The U.S. Department of Justice joined in the filing. Recently, the DoJ put up a fuss about the proposed merger, and it's becoming crystal clear that the two involved companies are now scrambling behind the scenes to get their ducks in a row.
Here's a quote from AT&T about the move: "AT&T is committed to working with Deutsche Telekom to find a solution that is in the best interests of our respective customers, shareholders and employees. We are actively considering whether and how to revise our current transaction to achieve the necessary regulatory approvals so that we can deliver the capacity enhancements and improved customer service that can only be derived from combining our two companies' wireless assets.”
In other words, don't expect any groundbreaking news about this until after CES 2012; once that's over, though, you may hear some Earth-rocking news right around Mobile World Congress. It'll be fitting, no?
Here's a quote from AT&T about the move: "AT&T is committed to working with Deutsche Telekom to find a solution that is in the best interests of our respective customers, shareholders and employees. We are actively considering whether and how to revise our current transaction to achieve the necessary regulatory approvals so that we can deliver the capacity enhancements and improved customer service that can only be derived from combining our two companies' wireless assets.”
In other words, don't expect any groundbreaking news about this until after CES 2012; once that's over, though, you may hear some Earth-rocking news right around Mobile World Congress. It'll be fitting, no?
