New York – New York Attorney General Eric Schneiderman has
announced that he will "undertake a thorough review" of AT&T’s (NYSE: T)
proposed $39 billion acquisition of T-Mobile USA. Schneiderman noted that
"the proposed merger could start a process of consolidation that would
lead to two firms — AT&T and Verizon — controlling nearly 80% of wireless
subscribers and dominating the U.S. wireless business."
"Cell phones
are no longer a luxury for a few among us, but a basic necessity. The last
thing New Yorkers need during these difficult economic times is to see cell
phone prices rise," Schneiderman said in a statement.
"Affordable
wireless service and technology, including smart phones and next generation
handheld devices, are the bridge to the digital broadband future. We want to
ensure all New Yorkers benefit from these important innovations that improve
lives."
The U.S. Justice Dept. and Federal Communications Commission (FCC)
are also looking into potential antitrust issues raised by the deal.
Related Links:
http://www.ag.ny.gov/media_center/2011/mar/mar29a_11.html
