AT&T Inc (T.N) employed a small army of economists to promote its plan to purchase smaller rival T-Mobile but the Justice Department viewed the deal as snuffing out a plucky competitor to the detriment of consumers. A review of documents filed with the Federal Communications Commission shows the merger parties as recently as last week were trying to sway government officials with more information to back their proposal. Despite those efforts, the Justice Department went to court on Wednesday to block AT&T's $39 billion purchase of Deutsche Telekom's (DTEGn.DE) T-Mobile USA. A July 13 event hosted by the FCC saw teams of economists and other analysts from the merger partners, and chief deal critic Sprint Nextel (S.N), lay out their arguments before FCC and Justice Department officials.
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 3.85% or $-1.14/share to $28.48. In the past year, the shares have traded as low as $27.06 and as high as $31.94. On average, 28001700 shares of T exchange hands on a given day and today's volume is recorded at 112991024.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S traded higher by 5.92% or $0.21/share to $3.76. In the past year, the shares have traded as low as $2.98 and as high as $6.45. On average, 61107000 shares of S exchange hands on a given day and today's volume is recorded at 196607104.
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