AT&T: FCC is preventing the creation of thousand of jobs, billions in investment

AT&T on Tuesday issued a statement after the Federal Communications Commission took preliminary steps toward blocking AT&T’s proposed $39 billion acquisition of T-Mobile USA. The FCC said it is not convinced the merger will in fact create jobs as AT&T has promised, and it said it will hold an administrative hearing to examine the deal. The hearing, however, will not take place until after the Department of Justice’s lawsuit against the merger, which will go to trial in February 2012, runs its course. ”The FCC’s action today is disappointing,” AT&T’s senior vice president of Corporate Communications Larry Solomon said in a statement. ”It is yet another example of a government agency acting to prevent billions in new investment and the creation of many thousands of new jobs at a time when the US economy desperately needs both. At this time, we are reviewing all options.”

Tags: acquisition, AT&T, DOJ, FCC, Merger, statement, T-Mobile

Zach Epstein