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AT&T Cuts CEO Pay by $2M Over Failed T-Mobile Buyout

Randall Stephenson

AT&T's board of directors has reportedly moved to slash CEO Randall Stephenson's 2011 compensation by more than $2 million due to the executive's role in the unsuccessful attempt to acquire competitor T-Mobile.

 

T-Mobile asks FCC to block Verizon-cable deal

Verizon

T-Mobile USA, which just had its acquisition by AT&T blocked by regulators, is now urging the federal government to block another deal in the wireless world: Verizon's planned purchase spectrum from cable companies for $3.6 billion.

 

DealBook: AT&T Ends $39 Billion Bid for T-Mobile

iPhone: T-Mobile

AT&T acknowledged that it could not overcome opposition from the Obama administration to creating the nation’s biggest cellphone service provider. The company said in a statement that it would continue to invest in wireless spectrum, but could not overcome resistance from both the Justice Department and the Federal Communications Commission. It added that American wireless customers “will be harmed and needed investment will be stifled” by the regulators’ decisions.

Senh: What does Barack Obama have to do with this. Sure, it's his administration, but it's the FCC. I never thought this would happen when the merger was announced. I guess big companies can gobble up smaller companies, but not competitors of the same size.

 

AT&T, Justice agree to postpone case as companies scramble to salvage deal

AT&T T-Mobile Merger

AT&T and T-Mobile on Monday asked a federal judge to postpone an antitrust lawsuit as the companies were assessing “whether and how” to proceed with their $39 billion mega-merger. The announcement signals that the deal as originally conceived is all but dead. The two companies could still seek ways to retool the terms to address the concerns of regulators.

 

AT&T to offer bigger asset sale to save T-Mobile deal: report

AT&T to offer bigger asset sale to save T-Mobile deal: report

AT&T Inc is considering an offer to divest a significantly larger portion of assets than it had initially expected, in order to salvage its $39 billion deal to buy T-Mobile USA, Bloomberg reported citing a person familiar with the plan.

 

AT&T braces for T-Mobile deal collapse

AT&T braces for T-Mobile deal collapse

AT&T said it would take a $4 billion charge in case its takeover of T-Mobile USA fails, a tacit recognition of the dwindling chances that the deal will get through U.S. regulators who say it would destroy jobs and curb competition.

 

AT&T to Take $4 Billion Charge for T-Mobile Deal

AT&T said it would take a $4 billion charge in the final quarter, the value of a breakup fee and spectrum assets possibly owed Deutsche Telekom, an acknowledgment that the company's proposed takeover of T-Mobile faces an increasingly uphill battle.

 

F.C.C. Seeks Review of AT&T Merger With T-Mobile

The chairman of the Federal Communications Commission will request an administrative hearing on the proposed $39 billion acquisition... The decision by the chairman, Julius Genachowski, puts a second large roadblock in front of AT&T, the nation’s second-largest wireless phone company, in its effort to buy T-Mobile, the No. 4 carrier. In August, the Justice Department filed a federal antitrust lawsuit to block the merger, saying it would stifle competition.

 

AT&T Sees Later Closing for T-Mobile Deal

AT&T pushed back the expected closing dates for its purchases of T-Mobile USA and a block of Qualcomm spectrum by as much as three months as it battles regulatory scrutiny.

 

California joins suit to block AT&T purchase of T-Mobile

California joins suit to block AT&T purchase of T-Mobile

Atty. Gen. Kamala Harris and six other state attorneys general join the Justice Department's antitrust suit, say the deal would result in less competition in the wireless market.

 

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