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AT&T T-Mobile

AT&T's proposed acquisition of T-Mobile has run into a number of roadblocks in its eight months of existence, including ones from Sprint CEO Dan Hesse and the U.S. Department of Justice. Today it's been revealed that AT&T-Mobile now has another issue to be concerned with, as FCC Chairman Julius Genachowski has requested a formal hearing on the merger. Genachowski today said that the proposed acquisition is not in the public interest and would eliminate thousands of jobs, despite AT&T's claims to the contrary. The hearing, which must still be approved by the other FCC Commissioners, will be similar to a trial and will take place if the Justice Department's attempt at blocking the acquisition fails. AT&T has issued a statement concerning the FCC's move:

"The FCC’s action today is disappointing.  It is yet another example of a government agency acting to prevent billions in new investment and the creation of many thousands of new jobs at a time when the US economy desperately needs both. At this time, we are reviewing all options."

This isn't the first time that the FCC show concern over AT&T's proposed takeover buyout of T-Mobile, but the fact that Chairman Genachowski has come out and requested a hearing on the merger just adds to the growing opposition that we've seen cropping up since the AT&T-Mo deal was announced. We'll keep an eye on the situation and let you know when more develops.

Via The Verge, TmoNews, WSJ


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