M & A wrap: AT&T goes to court
The Justice Department made a bold move when it sued to block AT&T’s $39 billion acquisition of T-Mobile. Now comes the hard part, reports Carlyn Kolker and Diane Bartz.
“The lawsuit seeking to block AT&T Inc.’s takeover of T-Mobile USA Inc. shows a more aggressive antitrust stance by the U.S. Justice Department that limits prospects for other big telecommunications deals,” Bloomberg reports.
Consumers still lose if AT&T can’t by T-Mobile, writes Dan Frommer.
It’s a good day for the American consumer, not to mention a great day for Sprint and Verizon, writes columnist Felix Salmon.
On the IPO front, Manchester United reported record full year profit and revenue, strengthening its hand ahead of a planned $1 billion flotation in Singapore later this year.