Sunday, March 20, 2011

Alert: Markey Calls for Congressional Hearings on $39 Billion AT&T Takeover of T-Mobile USA 03/20/2011 San Francisco - The Democratic dean of telecommunications policy issues in the U.S. House has issued a call for congressional hearings on the proposed $39 billion acquisition of T-Mobile USA by AT&T.

Rep. Ed Markey (D-MA-07)
Congressman Ed Markey (D-MA-07) minutes ago said that congressional review of the deal, which was jointly announced early afternoon today by AT&T (NYSE: T) and T-Mobile's corporate parent, Deutsche Telekom AG (DTEGY.PK), needs to take place. If approved by regulators the deal would create the  largest wireless operator in the nation by a large measure.

In a statement emailed to this publication in the last several minutes, Rep. Markey stated:
"I intend to evaluate the proposed merger of AT&T and T Mobile closely with a focus on how it would impact consumers, competition, and choice. While AT&T and T Mobile have determined that the merger is in their corporate interests, it must also be in the public interest. We should hold Congressional hearings to fully assess the effects of this proposed merger, and I look forward to actively participating in them with my colleagues."
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