Senator Herb Kohl, chairman of the U.S. Senate's antitrust subcommittee, urged the federal government to block AT&T's (T.N) $39 billion plan to purchase T-Mobile USA, a unit of Deutsche Telekom (DTEGn.DE). In a letter to the Justice Department and Federal Communications Commission, Kohl said that the deal "would likely cause substantial harm to competition and consumers, would be contrary to antitrust law and not in the public interest, and therefore should be blocked by your agencies." Separately, three other lawmakers, Representatives Edward Markey, John Conyers and Anna Eshoo, also expressed concern about the deal on Wednesday, saying in a letter that they were worried about growing concentration in the wireless market. In June, 76 lawmakers sent a letter to the Justice Department and FCC urging approval of the deal, citing AT&T's promises to improve access to poor and rural Americans.
AT&T Inc. is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. Shares of T fell by 0.33% or $-0.1/share to $30.23. In the past year, the shares have traded as low as $24.50 and as high as $31.94. On average, 22166200 shares of T exchange hands on a given day and today's volume is recorded at 19826852.
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