The proposed mega merger between AT&T and T-Mobile USA has some major regulatory hurdles to clear.
The merger was announced Sunday and already has ignited a fierce battle among politicians in Washington and consumer groups who fear it will lead to higher prices.
As expected, competitor Sprint is voicing its opposition to the whopping $39 billion deal, what Bloomberg is reporting as the biggest acquisition worldwide in more than a year. Sprint says it could seriously disrupt wireless competition in the country. Itself viewed as a potential merger partner for T-Mobile, Sprint’s objections appear self-serving, as it will be one of the companies hardest hit if the deal materializes, but most industry experts agree close scrutiny is needed to protect consumers from potential price hikes and less choices if the market is overly concentrated. The Federal Communications Commission, because of the transfer of wireless spectrum licences, must approve the deal, and the Department of Justice will likely review it for antitrust issues.
The proposal combines the nation’s second largest mobile phone carrier, AT&T, with the fourth largest. The Wall Street Journal reported Monday that the deal widens the gap between Sprint and its two larger rivals, and would place it last among the national wireless carriers. Sprint's shares, which have gained 19 percent this year through Friday’s close, WSJ noted, fell 12 percent to $4.43 Monday morning.
“If approved, the merger would result in a wireless industry dominated overwhelmingly by two vertically-integrated companies that control almost 80 percent of the U.S. wireless post-paid market,” said Overland, Kan.-based Sprint in a statement. “AT&T and Verizon are already by far the largest wireless providers. A combined AT&T and T-Mobile would be almost three times the size of Sprint, the third largest wireless competitor.”
There is now speculation that regulators could take up to a year to study the proposal and would likely require some divestitures and expansion of rural coverage if the deal wins approval. Read more here.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Georgia-based fried chicken chain would go up against Raising Cane’s, Chick-fil-A and others (like the Popeyes near its proposed location).
A Scott businessman has pleaded guilty to failing to report a conspiracy to award Opelousas Housing Authority construction bids to his company.
Court-appointed examiner says Lafayette businessman was “effectively on both sides” of transactions, opens door for legal action against him.
Lafayette-based insurance broker/risk management group bought by Florida firm for undisclosed sum; principals Landry and Harris continue to run local operations.
The House labor committee rejected bills Thursday that would have set the state minimum wage higher than the hourly federal rate of $7.25 and would have allowed local governments to set their own minimum wage.
Of the major oil- and gas-producing states, Louisiana gained nine rigs, Texas increased by seven, California gained three and New Mexico increased by one.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,101 from the previous week's total of 1,985. There were 2,444 initial claims during the comparable week in 2013.
Eleven Senate Democrats, including Louisiana's Mary Landrieu and five others who face contested races this year, urged President Barack Obama on Thursday to approve the Keystone XL oil pipeline by the end of May.
In a press release issued Wednesday, BancorpSouth announced a deal to acquire Knox Insurance Group of Lafayette.
Get ready for Tenacious Tuesday, ladies, ’cause it’s returning, too.
The drug companies said Tuesday they will “vigorously challenge” the decision, which was handed down by a Lafayette jury in federal court Monday.
The gap comes from a $35 million increase in enrollment growth and a $20 million “cash flow issue” which Education Superintendent John White did not explain.
Two additional tenants sign letters of intent for Phase I of lifestyle center.
The attorneys representing the Southeast Louisiana Flood Protection Authority-East in its lawsuit against 97 oil and gas companies may have just quashed the main line of criticism coming from Gov. Bobby Jindal and the Louisiana Oil and Gas Association.
It’ll be another week before Rep. Joel Robideaux’s House Bill 862 — an attempt at making it more cumbersome for parish governments to sue oil and gas companies — undergoes its first round of debate.
The civil complaint alleges that Joyce Bougere-Keyes prepares federal income tax returns for customers who report fabricated and/or inflated business income and expenses to maximize the amount of the Earned Income Tax Credit her customers claim.
Because... greedy trial lawyers?
Landrieu is chair of the U.S. Senate committee that deals with energy policy. The lawsuit puts her between two areas in which she's been a strong advocate: rebuilding Louisiana's coast and supporting the oil and gas industry.
Each facing 20 years in prison, couple are last two defendants in a 10-count indictment to plead guilty.
The Louisiana Workforce Commission said Friday that initial claims fell to 1,985 from the previous week's total of 2,131. There were 1,663 initial claims during the comparable week in 2013.
Tyrone Ben, a human resources manager for a mental health and counseling service in Chalmette, became the second of two nominees that could fill the seat now held by Tim Doody on the Southeast Louisiana Flood Protection Authority-East.
Local Latter & Blum company now second only to sister entity in New Orleans
Under a bill that received the backing of a Senate judiciary committee, a person would be limited to 10 short-term loans a year from payday lenders.
Chitimacha Louisiana Open fans enjoy garden party at sunset