AT&T's Bid For T-Mobile Blocked By Lawsuit
STEVE INSKEEP, host:
NPR's business news starts with the government hanging up on a big telephone merger.
(Soundbite of music)
INSKEEP: Or maybe it was more of a dropped call. The Justice Department filed suit today to block AT&T's proposed takeover of T-Mobile. Officials say combining the country's second and fourth-largest mobile phone carriers would be bad for competition.
The $39 million deal has been under scrutiny from lawmakers and consumer groups, and the number-three carrier, Sprint Nextel, objects. The government's decision to sue to block the merger comes despite AT&T's efforts to make it more politically palatable. Most recently, AT&T pledged to bring back thousands of call center jobs from overseas.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.