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.
A divided 3rd Circuit Court of Appeal reversed a Lafayette district judge’s ruling absolving the co-owner of a New Iberia accounting firm of liability in an embezzlement case.
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“I am only getting a little nervous about two projects — the proposed Sasol GTL facility [not the new ethylene plant] and the proposed G2X facility — both in Lake Charles. They need a hefty difference between oil and natural gas prices to make sense.”
Lower oil prices also might slow the growth of oil production in parts of the U.S., Canada and elsewhere because it will no longer be so profitable.
A Lafayette woman faces up to 20 years in prison for running up more than $1 million in unauthorized charges to her company credit card.
Signs that our state’s banking industry is undergoing a downsizing in 2014 were further confirmed today with the FDIC’s latest figures showing a third straight quarter in which Louisiana lost more banks and earned less money.
State police say a 47-year-old Lafayette man, who collected more than $83,000 in disability benefits, is accused of operating two businesses out of his home at a time when he claimed he had no income.
Facing opposition from a powerful industry, the governor and many in the Legislature, a New Orleans-area flood board's lawsuit against dozens of oil, gas and pipeline companies seemed doomed early on.
Thursday’s explosion aboard an oil production platform in the Gulf of Mexico is now under investigation by the Bureau of Safety and Environmental Enforcement.
Money from the first and only settlement so far in a Louisiana flood board's lawsuit against dozens of energy companies will be placed in a special account dedicated to coastal restoration.
BP is heading to a federal appeals court in its effort to oust the administrator of damage settlement claims arising from the 2010 Gulf of Mexico oil spill.
The 59-41 Senate vote was one shy short of the 60 needed to clear the House-passed measure.
Spot bonuses to employees who go above and beyond on projects one of several reasons national mag calls BR-based biz bank a cool place to work.
The Director Search Committee interviewed the five men still in the running via video last week and is set to trim the field this week.
Telecom’s decision to halt deployment to more than 100 cities while it awaits net-neutrality rules appears to be little more than a temper tantrum.
Environmental (and political) junkies got a double fix when The Lens hosted a discussion between its environmental writer and the lead attorney in the levee board suit.
Follow The IND to hear Lens environmental reporter Bob Marshall's interview with Gladstone Jones, the lead attorney in the lawsuit against the oil and gas companies for coastal damages.
The $35B deal leaves the burning question about what it will mean for the thousands of these two service giants' local employees.
Broussard & David set up shop at the corner of Jefferson and Vermilion.
in light of falling oil prices, Forbes asks, “Will there be more?”
Lake Charles lets Acadiana companies in on the action as our neighbor to the west prepares for unprecedented growth.
A new study analyzes the state of the Lake Charles region and the impact 19 industrial projects will have on residents.
A U.S. magistrate judge calls “garbage” on behavior of attorneys for Progressive Waste Solutions.
The Lafayette food truck scene is slowing down but not stopping.
Lake-area financial institutions seeing green.