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AT&T (T) Will Press T-Mobile Deal

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By Douglas A. McIntyre Published
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AT&T (NYSE: T) said it would work to close its $39 billion deal to buy T-Mobile despite FCC objections. If the deal does not go through AT&T owes T-Mobile parent Deutsche Telekom a $4 billion breakup fee.

According to Reuters

“We continue to move forward with our efforts to complete the T-Mobile transaction…and we will continue to pursue the sale,” AT&T Chief Financial Officer John Stephens said at the UBS media conference in New York.

The CFO said AT&T had lined up financing for the deal

AT&T has abandoned its effort with the government for the time being . There are rumors that it would set a joint venture to combine some operations with T-Mobile, but it is not clear whether the FCC would block that.

AT&T also faces legal challenges from No.3 US cellular company Sprint-Nextel (NYSE: S). Its fortunes could be damaged if AT&T created a larger company. Sprint has 50 million subscribers to AT&T and Verizon Wireless counts of nearly 100 million each

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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