Originally published: July 26, 2011
Last updated: July 26, 2011 - 7:20pm
Sen. Al Franken (D-MN) told federal regulators that they should deny AT&T's request to acquire T-Mobile because the merger would drive up prices for wireless customers and likely cost thousands of jobs.
In a filing sent to the Department of Justice (DOJ) and the Federal Communications Commission (FCC), Sen. Franken said the merger would be a bad deal for consumers, noting that some analysts predict that wireless costs could go up by as much as 25 percent as a result. He also said that the merger would further stifle competition in an already-concentrated wireless market and would allow only two companies-AT&T and Verizon-to control more than 80 percent of the market.
"This transaction is not in the public interest," Sen. Franken said in his filing. "If approved, it would result in greatly reduced competition, the potential loss of thousands of jobs, higher consumer prices, and less innovation in technology. I urge the FCC and the DOJ to deny AT&T's application for approval of its acquisition of T-Mobile."
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