The chairman of the U.S. House of Representatives Judiciary Committee, urged the federal government to resist one-sided calls to block AT&T Inc's (T.N) $39 billion plan to purchase wireless rival T-Mobile USA. In a letter sent Monday to the U.S. Justice Department and Federal Communications Commission, Representative Lamar Smith said calls to block the merger that ignore the deal's benefits to wireless service paint an incomplete picture. "I urge you to carefully weigh all of the evidence, including the many benefits of this transaction, before coming to a conclusion," the Republican from Texas wrote. The ultimate decision on the deal rests with the Justice Department, that is conducting an antitrust review, and the FCC, which is weighing whether the transaction is in the public interest.
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 1.15% or $-0.34/share to $29.18. In the past year, the shares have traded as low as $26.20 and as high as $31.94. On average, 22821700 shares of T exchange hands on a given day and today's volume is recorded at 29156412.
