Deals
AT&T’s Stephenson Plans Court Fight, Concessions to Salvage Deal
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AT&T Inc. Chairman and Chief Executive Officer Randall Stephenson is facing the toughest regulatory challenge of his career as U.S. officials put his $39 billion gamble on T-Mobile USA Inc. in jeopardy.
Stephenson, 51, agreed to a deal that will pay T-Mobile a package of $7 billion, including $3 billion in cash plus wireless airwaves and call discounts, if regulators reject the acquisition. Dallas-based AT&T expressed surprise yesterday that the U.S. Justice Department moved to block the deal.