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AT&T Says It Has the Motivation, Cash to Close T-Mobile Deal Fast

Dec 7, 2011, 3:01 PM by Eric M. Zeman
updated Dec 7, 2011, 4:43 PM

AT&T CFO John Stephens today reiterated the company's commitment to acquiring smaller rival T-Mobile USA. "We continue to move forward with our efforts to complete the T-Mobile transaction...and we will continue to pursue the sale," said Stephens at a conference in New York. Stephens said the company has amassed $10 billion in cash reserves, a $20 billion bridge, and an $8 billion backup to help it make the $39.5 billion acquisition price. "So we clearly have an ability to close the deal very quickly and have those resources. That is the plan," said Stephens. AT&T believes it can beat the lawsuit it is facing from the Department of Justice, though Stephens wouldn't share the company's strategy for doing so. After the Justice Department's trial concludes, AT&T will still face lawsuits from Sprint and C Spire Wireless.

Reuters »

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Comments

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This forum is closed.

mycool

Dec 7, 2011, 3:04 PM

Good...

now cancel your bid on T-Mobile, pay them your breakup fee, and dump the remaining billions into network expansion.

Jaden10

I agree. Instead of buying out a competitor and say it is for spectrum reasons. DUMP THE 39 BILLION INTO NETWORK EXPANSION! And get rid of the dead spots.

...

Mark_S

Appears that AT&T is absolutely desperate.
Monopolizing landlines in the past was not enough for them?
They do not need T-Mobile to give them the network spectrum and expansion they so claim.
With what they have, they are more than quite capable. G...
(continues)

psycros

Hear hear! These dirtbags have billions to throw at monopolizing GSM yet they can't hire some competent service reps or get some competitive phones? Laughable! No wonder their bleeding accounts and are always dead last in customer satisfaction. Go...
(continues)

...

Troll-Bait

Dec 8, 2011, 11:32 AM

I'm dying to know why Sprint is so opposed to this.

I just can't figure it out.

If an AT&T and T-Mobile merger is bad for the customers and will raise prices please explain how this will not BENEFIT Sprint?

Jellz

Dec 7, 2011, 3:28 PM

That's a lot of money

And then we see news articles of Sprint and Clearwire scrambling to turn a buck. 🤣

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