Here is a collection of news clips about the AT&T T-Mobile merger deal as news broke over Thanksgiving that AT&T had withdrawn its application with the Federal Communications Commission to proceed with the merger.
[flv width=”640″ height=”500″]http://www.phillipdampier.com/video/WSJ ATT T-Mobile Collapsing Deal Impacts Deutsche Telekom 11-25-11.flv[/flv]
The Wall Street Journal offers two reports today about the surprise news that AT&T was pulling its merger application from the FCC. The newspaper wonders how the deal collapse will impact Deutsche Telekom, the German parent of T-Mobile USA, which has shown every indication it wants out of the U.S. market to focus on its telecommunications interests in Europe. (7 minutes)
[flv width=”640″ height=”380″]http://www.phillipdampier.com/video/Bloomberg ATT to Record 4B Costs on T-Mobile USA Deal Risks 11-25-11.flv[/flv]
AT&T Inc., whose $39 billion bid for T-Mobile USA is challenged by the U.S. Justice Department, will record one-time costs of $4 billion this quarter to reflect the risks of a collapse of the deal. AT&T and T-Mobile owner Deutsche Telekom AG withdrew their applications to the U.S. Federal Communications Commission yesterday after FCC Chairman Julius Genachowski on Nov. 22 asked fellow commissioners to send the proposed purchase to a hearing, signaling an attempt to block the deal. Lizzie O’Leary reports on Bloomberg Television’s “InsideTrack.” (2 minutes)
[flv width=”640″ height=”380″]http://www.phillipdampier.com/video/Bloomberg ATT Decision to Withdraw T-Mobile FCC Application 11-25-11.flv[/flv]
Jennifer Fritzsche, an analyst at Wells Fargo Securities LLC, talks about AT&T Inc.’s decision to withdraw its Federal Communications Commission application to acquire T-Mobile USA Inc. from Deutsche Telekom AG. She’s still slightly optimistic the deal can still succeed, especially if the 2012 elections result in a Republican administration. She speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (2 minutes)
[flv width=”640″ height=”380″]http://www.phillipdampier.com/video/Bloomberg ATTs T-Mobile Takeover FCC Application 11-25-11.flv[/flv]
Paul Gallant, an analyst with Guggenheim Securities LLC, was surprised to see the FCC chairman suddenly take a more aggressive stance against the merger. Most on Wall Street expected Chairman Genachowski to follow the Justice Dept. lead. That changed last week when the chairman signaled the FCC would also take a tough look at the deal. Also, will the news of the withdrawn application benefit Sprint? Bloomberg News reports. (3 minutes)
As much as I like hearing news about AT&T having a tougher time getting this merger approved, I still can’t forget the fact that they agreed for give T-Mobile 4 billion dollars in cash and spectrum at the outset. You don’t do something like that unless you are nearly 100% confident your purchase will be approved. I’m still waiting for the card up AT&T’s sleeve to be played before I get my hopes up…there has to be something they have planned.