Telecommunications/Technology

AT&T files FCC petition for approval of T-Mobile buyout

Exactly 30 days after announcing plans to acquire rival wireless carrier T-Mobile, AT&T Inc. filed Thursday the petition for authorization of the transaction at the Federal Communications Commission, the agency confirmed on its website.

If approved, the cash-and-stock buyout worth $39 billion would marry the second and fourth largest carriers in the U.S. market, and the number one and number three wireless providers in Puerto Rico.

The FCC’s review process is expected to take at least a year, as agency sources have already hinted that the transaction will require close analysis. Among other things, industry sources have said the FCC will study the transaction’s impact on competition and what is good for consumers.

In Puerto Rico, the deal must get the go-ahead from the Telecommunications Regulatory Board. Agency President Sandra Torres has already expressed reservations about the buyout’s effects on the local market.

Because this transaction will consider competitive matters, the FCC has already said it will keep certain documents under a “protective order,” or confidential.

Author Details
Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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