Seems like old blue and Magenta may not get the merger off the ground like AT&T wanted to. It seems that the U.S. Department of Justice (DOJ) has put a stop to such a mutual relationship. According to Forbes AT&T appeared caught off guard by the DOJ’s actions. The company released a statement Wednesday that said it was “surprised and disappointed” by the move. In a research note, Stifel Nicolaus analysts Rebecca Arbogast and David Kaut said the filing appears to be a serious antitrust claim, not simply a way for the DOJ to negotiate conditions and concessions with AT&T. AT&T has stated that it would likely create 5,000 US jobs in the merger, it shall be interesting to see how this one plays out.
What do you think of DOJ axing the merger?
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