AT&T is getting ready to sell assets in return for antitrust approval for the takeover of T-Mobile US, the Wall Street journal reports, citing unnamed people familiar with the matter. According to the article AT&T has hired BoA Merrill Lynch to advise on…
AT&T is getting ready to sell assets in return for antitrust approval for the takeover of T-Mobile US, the Wall Street journal reports, citing unnamed people familiar with the matter. According to the article AT&T has hired BoA Merrill Lynch to advise on disposals.
It is seen as likely that the merging parties need to divest network assets, such as wireless spectrum with a value of US$8bn or more, the people familiar with the situation told the WSJ. While most disposals are expected to come from T-Mobile’s portfolio, AT&T might also exit some of its own assets to appease regulators.
A formal sale process has not yet started, the article said.
An AT&T spokesperson told the WSJ that remedies had always been expected, but it was too early to speculate about details.
The takeover of T-Mobile by AT&T will see the second and the fourth biggest US network provider merging in a transaction valued at US$39bn. Approval by regulators is not expected before Q1 2012.
