Hey AT&T, the federal government has put up a huge roadblock to your $39 billion purchase of T-Mobile USA. What are you going to do now?
According to a statement from Wayne Watts, AT&T Senior Executive Vice President and General Counsel, to Consumerist, the folks at the Death Star are readying for a legal battle:
We are surprised and disappointed by today’s action, particularly since we have met repeatedly with the Department of Justice and there was no indication from the DOJ that this action was being contemplated.
We plan to ask for an expedited hearing so the enormous benefits of this merger can be fully reviewed. The DOJ has the burden of proving alleged anti-competitive affects and we intend to vigorously contest this matter in court…
We remain confident that this merger is in the best interest of consumers and our country, and the facts will prevail in court.
What’s not mentioned in the statement is the fact that, should the deal fall through, AT&T will be required to pay T-Mobile’s parent company, Deutsche Telekom, $3 billion in cash plus billions more to T-Mobile in wireless spectrum and discounted charges.