Mergers and Acquistions News
Categories: Software
May 25th 2011, 12:32PM
The proposed acquisition deal between American communications giant AT&T and the US arm of Deutsche Telekom has faced yet more opposition.
After weeks of battling objections from companies and competition regulators, the deal has now been dubbed as "harmful to customers" by Leap Wireless International.
The competing company, which also runs operating subsidiary Cricket Communications, has said that the deal, which will see AT&T gain a near-monopoly over services in the US, would accelerate a trend towards "alarming concentration" in the industry.
President Doug Hutcheson said: "We oppose the proposed acquisition. A competitive marketplace is critical to wireless innovation - and small and mid-sized carriers such as Cricket are driving that innovation."
AT&T agreed to acquire Deutsche Telekom-owned T-Mobile USA in March, in a deal worth around $39 billion (£24 billion). If the deal is approved it will create a new market leader. Smaller companies and competition officials have expressed concern that it could price other providers out of the market.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)