The U.S. Justice Department made a bold move when it sued to block AT&T Inc's (T.N) $39 billion acquisition of T-Mobile. Now comes the hard part: going to court. The government is asking a federal judge in Washington, D.C. to stop the deal, and will have to prove that it would mean higher prices and less competition. "This will be the Obama administration's line in the sand. This will be their signature antitrust event," said University of Baltimore law school professor Robert Lande. AT&T has said it will fight the case, and its general counsel said it plans to seek an expedited hearing from the judge. Even so, experts say, the company could decide that it is not worth the expense and uncertainty to go to trial.
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 112911880.
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