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.
Attorney General Buddy Caldwell says he won't approve a Cameron Parish Police Jury resolution to hire outside attorneys for such a lawsuit until the resolution is amended. Caldwell's Sept. 15 letter says the resolution must make clear that those attorneys will represent the parish alone — not the state.
Michelle D. Lavergne, who worked for the Lafayette law office of L. Clayton Burgess for 13 years, faces up to 10 years in prison.
Sonnier, former media buyer and account exec at Sides, joins Acadian companies as marketing specialist; Maggard, who most recently worked for Potenza, joins Russo as director of media and PR.
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Hurry, rush to Jersey’s Daiquiris Sports Bar in Broussard for a cold one because at noon tomorrow its license is suspended for two months by the state!
The feds say Donald Domingues reported $259,725 as income and paid $64,909 in taxes but he allegedly failed to mention a $351,000 sales commission, which would have bumped his income up to just over $610,000 and his tax liability to $186,000.
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“The connector is a crucial part of the larger I-49 South project from Lafayette to New Orleans that would convert U.S. 90 into an interstate-quality roadway.” — U.S. Sen. Mary Landrieu
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U.S. District Judge Carl Barbier's ruling Thursday could nearly quadruple the amount of civil penalties for polluting the Gulf of Mexico with oil from BP's Macondo well in 2010.