DoJ clears AT&T for Centennial buy
By Will Park on Tuesday, October 13th, 2009 at 5:05 PM PST In AT&T, Announcements, Financial/Corporate News
The US Department of Justice is one of the biggest hurdles any big corporation has to get past before any merger or acquisition. And AT&T (NYSE: T) is about as big as they get. Today, the DoJ has cleared AT&T to go ahead and close the $994 million Centennial acquisition that was announced last year. The deal puts another 1.1 million wireless subscribers under Big Blue’s umbrella.
The DoJ’s blessing leaves AT&T waiting on the go-ahead from the FCC. As part of the DoJ approval, AT&T had to give up 8 wireless markets in Louisiana and Mississippi, of which Verizon (NYSE: VZ) picked up a handful.
AT&T says that they expect the deal to close early in Q4.
