AT&T May Propose Bigger Asset Sale to Save T-Mobile Takeover

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Monday, 28 November 2011

AT&T May Propose Bigger Asset Sale to Save T-Mobile Takeover

According to Bloomberg AT&T is trying to salvage the $39 billion deal made with T-Mobile, according to a person familiar with the plan. In order to do this they plan to divest a significantly larger portion of assests than originally intended, said the person, who declined to reveal himself because the plan isn't public. There hasn't been a number given, but it could end up being as much as 40 percent of T-Mobile USA's assets. Earlier this year the DOJ sued AT&T to block the takeover indicating it would "substantially lessen competition", and AT&T hopes this move will change their mind. On Thanksgiving AT&T withdrew their initial application deal and it looks like that was just a step to reorganize the terms so the merger would be successful.

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