Randall Stephenson, the CEO of US mobile operator AT&T, said he expects the company will have to sell assets in order to get regulatory approval for its US$39bn acquisition of T-Mobile USA. Speaking to journalists, he emphasised that he was unsure which…
Randall Stephenson, the CEO of US mobile operator AT&T, said he expects the company will have to sell assets in order to get regulatory approval for its US$39bn acquisition of T-Mobile USA. Speaking to journalists, he emphasised that he was unsure which assets these would be.
He also said that the deal is on track to close in around a year’s time, reports Reuters.
AT&T filed a statement with the FCC last week reiterating its rationale for the deal and answering criticism by competitors.
Critics have argued that the deal could lead to a duopoly, with AT&T/T-Mobile and Verizon Wireless controlling around 80% of the market.
On the other hand, AT&T argues that the deal would generate jobs and economic growth, while making an LTE network accessible to 97% of the population.
The deal has received support from some big TMT names including Facebook, Microsoft, Qualcomm, RIM and Yahoo.
