The U.S. Federal Communications Commission said it has restarted the clock on its review of AT&T Inc's (T.N) proposed $39 billion purchase of smaller rival T-Mobile USA. The FCC, which had started examining the deal in late April, had paused what is typically a 180-day review on July 20 after AT&T said it would submit new arguments to support its application. The regulator said it restarted the process on Friday, day 83 of the review, after it received answers to questions it had asked AT&T, the No. 2 U.S. mobile service. AT&T has said buying the unit of Deutsche Telekom AG (DTEGn.DE) would allow it to quickly add capacity to meet growing demand for high-speed wireless service.
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 0.02% or $0.0050/share to $29.06. In the past year, the shares have traded as low as $26.50 and as high as $31.94. On average, 27800000 shares of T exchange hands on a given day and today's volume is recorded at 13477560.
