Sprint, and C-Spire Withdraw Suits Over AT&T and T-Mobile Merger, For Now Anyways
Now that AT&T has been issued a stay in their pending and publicly dramatic T-Mobile acquisition, wireless competitors Sprint and C-Spire have decided to withdraw their current suits to block the merger, for the time being. As reported by the Associated Press,
On Monday, AT&T and the Justice Department agreed to cancel the antitrust trial scheduled for February while the wireless carriers determine the fate of their proposed merger, which has come under increasing government criticism that it would reduce competition and raise consumer prices. AT&T says it is considering along with T-Mobile parent Deutsche Telekom AG of Germany whether to revise the plan to win regulatory approval.
While it may appear that everyone is playing nice in the sandbox, don’t assume Sprint and C-Spire have had a change of heart. We’re sure they will amp up the legal battle next year if AT&T gains momentum again. Despite the T-Mobile aqcuisition seeming like a dead deal for now, we won’t be surprised if the merger surfaces in 2012 with new vigor.
