By Eleanor M. Fox
The opinions expressed are her own.
Just as I was bracing for the headline, “U.S. approves AT&T’s acquisition of its fiercest competitor subject to a few conditions,” I had a happy surprise. “U.S. Files Lawsuit to Block Merger of Phone Rivals.” In another era, this would not have been a surprise. The surprise would have been that AT&T would have had the audacity to propose a merger with T-Mobile and confidently predict that it will close (betting a 6 billion dollar break-up fee that it will). After all, US antitrust law prohibits mergers where “the effect … may be substantially to lessen competition.”