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.
"Although the administration is moving forward with climate change regulations at home, we don't consider how policy decisions in the United States impact greenhouse gas emissions in other parts of the world," says Roger Martella, the former general counsel at the Environmental Protection Agency under President George W. Bush.
Louisiana agriculture officials say prices for long-grain rice are projected to drop this year.
First-time claims for unemployment insurance in Louisiana for the week ending July 19 decreased from the previous week's total.
A judge is getting ready to set a new trial date for a former BP executive charged with obstructing a congressional investigation into the 2010 Gulf of Mexico oil spill.
Midsouth Bank has released its second quarter earnings report, showing a year-over-year increase for shareholders.
The parent of Investar Bank says its second-quarter earnings fell to $1.1 million or 26 cents a share from $1.7 million of 44 cents a share in the same period a year ago.
1,554 rigs were exploring for oil and 315 for gas. Two were listed as miscellaneous. A year ago there were 1,770 active rigs.
Most personal auto insurance policies exclude coverage when people charge money to drive others in their personal vehicles.
Louisiana's 21 casinos took in $203.5 million statewide in June, edging up one-half of a percentage point from a year earlier.
Business First Bank has announced plans for a Baton Rouge market expansion through a merger deal with American Gateway Financial Corp.
Mellow Mushroom Pizza Bakers opens on Johnston.
Acadiana's Top 50 Private Companies
It would be an understatement to say Schumacher Group had a challenging year in 2013.
Hampton Toyota has been serving Acadiana as the premier Toyota dealership for more than 10 years. And now, the glossy Johnston Street dealership is looking forward to a makeover.
Even when Floyd Degueyter is on “vacation” he’s hard at work.
As the second largest metal heat treating company in the country, Analytic Stress Relieving Inc. has grown by leaps and bounds since its inception in 1979.
When the Prohibition era came to an end in 1933, Joseph R. Streva saw an opportunity to make a little extra money to supplement his day job.
When a hurricane hits, Brent Mouton doesn’t run. The convenience store chain owner is proof that the challenges of mother nature can almost break a business, but Mouton learned to grow out of temporary closure from near devastation in 2002 and of lost potential revenue.
By launching a Super PAC to end all Super PACs, our Top 50 keynote speaker hopes to change the game in Washington.
Oil Center-based private facility extends its offerings with special events venue in failed women’s store.
One year later, is his expansion plan paying off?
Newspaper industry insiders question John Georges’ expansion plan.
How the U.S. has gotten itself into another fine mess
The Heymann Center was transformed into a culinary adventure in mid-June for the EatLafayette kick-off event, A Taste of Lafayette, and for the third consecutive year, a sellout crowd filled the Cajundome Convention Center June 19 to hear LEDA chief Gregg Gothreaux’s State of the Economy report.
A look at recent hirings, promotions and other announcements from Acadiana's business community.