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Friday, May 6, 2011

US senator seeks answers from AT&T, T-Mobile execs, (NYSE: T)

A senator is asking AT&T Inc (T.N) and T-Mobile about their commitment to lower-priced plans and to maintaining current employment levels ahead of a congressional hearing on their proposed merger. Senator Amy Klobuchar sent a letter to the companies raising a series of concerns about the deal prior to the May 11 hearing by the Senate Judiciary's antitrust subcommittee. "AT&T and T-Mobile ought to be forthright and transparent with their customers about the potential effects the merger might have on prices and the quality of service," Klobuchar said in a separate statement. AT&T announced plans in March to acquire Deutsche Telekom AG's (DTEGn.DE) T-Mobile USA in a $39-billion bid.

AT&T Inc. is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. Shares of T traded higher by 0.13% or $0.04/share to $31.26. In the past year, the shares have traded as low as $23.78 and as high as $31.94. On average, 30611200 shares of T exchange hands on a given day and today's volume is recorded at 24449712.



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