AT&T Inc.'s (T) chief executive said Monday that his company
expects to have to make concessions to win U.S. government approval
for its planned $39 billion purchase of Deutsche Telekom AG's
(DTE.XE) T-Mobile USA unit, the Financial Times reported
online.
CEO Randall Stephenson, recalling past AT&T deals, told the
newspaper: "I cannot remember a single transaction, whether it be
large or small, where we were not asked, and agreed to, some level
of concessions. I am not anticipating there will be no concessions
required here."
But he expressed confidence that AT&T will secure clearance
from antitrust and other regulators for the cash-and-stock
acquisition of T-Mobile USA. If the deal is approved, AT&T will
leapfrog Verizon Wireless to become the leading U.S. mobile
operator, with an estimated 44% market share by revenue.
AT&T announced earlier Monday that it will pay $25 billion
in cash and the rest in stock, with Deutsche Telekom to get an 8%
stake in the U.S. company and a seat on its board.
Full story at
http://www.ft.com/cms/s/0/fe36a730-53ef-11e0-8bd7-00144feab49a,s01=1.html#axzz1HF8gzm8M
-Dow Jones Newswires; 212-416-2900