Mergers and Acquistions News
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March 30th 2011, 11:59AM
The acquisition of T-Mobile USA by AT&T has come under scrutiny in the US after the attorney general said it was "uncompetitive".
A new mobile market leader was created when telecoms giant AT&T took over the American arm of Deutsche Telekom earlier this month in a $39 billion (£24.3 billion) deal.
At the time, the move faced criticism from smaller companies, which said it could push up the price of mobile calls in the US, as 80 per cent of the market would now be controlled by two large companies.
Now attorney general Eric Schneiderman has announced he is to investigate the deal, as he is concerned it could lead to a duopoly in the industry, Reuters reported.
He said: "Cell phones are no longer a luxury for a few among us, but a basic necessity. The last thing New Yorkers need during these difficult economic times is to see cell phone prices rise."
A spokesman for AT & T told the news service that the company was looking forward to sharing information with the attorney general's office.
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