Hope everyone out there had a nice and safe Thanksgiving, and also hope everyone out there, survived Black Friday and today is Cyber Monday so everyone hopefully you are almost done with your Christmas shopping. Now onto today's topic of the day.
We all have heard that AT&T and T-Mobile wanted to unite their companies and form a mega company. But Sprint who was on the outside looking in, didn't want this to happen their reason was that they wouldn't have any customers that wanted to join their company. So they cried foul.
So now the FCC is now looking into this deal and see if this all fair for everyone involved in this merger. What the FCC is fearing with this merger is that there might be lots of job losses just because of this merger. But AT&T indicates that it will not be creating job lossses it will in fact be creating more jobs. But not only does the FCC have a problem with the merger but the Department of Justice has some doubts about this deal.
The Dept of Justice seems to think that this merger will lessen the competition and that is the thing that Sprint has said. And that is why Sprint also has their own lawsuit against AT&T. While it may seem that the odds are stacked against the mega power of AT&T but they have planned for such things and they may have more moves, so we will have to see what AT&T does next.
But if this deal were to be blown up AT&T would have to pay T-Mobile a cool $6 billion dollars in breakup costs. So will AT&T fork over that much money or will they just make it work with everyone involved? Stay tuned.