AT&T, Sprint Chief Executives to Testify on T-Mobile Merger
AT&T Inc. (T) Chief Executive Officer Randall Stephenson is to testify at a May 11 congressional hearing into the company’s proposed purchase of T-Mobile USA Inc., according to a news release from the U.S. Senate.
AT&T on March 20 proposed buying Deutsche Telekom AG (DTE)’s T- Mobile in a $39 billion deal, which would combine the second-and fourth-largest carriers to create a new market leader, ahead of No. 1 Verizon Wireless.
The deal needs approval from the Justice Department and Federal Communications Commission.
The hearing, entitled “The AT&T/T-Mobile Merger: Is Humpty Dumpty Being Put Back Together Again?” is before the committee’s antitrust panel, which is chaired by Senator Herb Kohl, a Wisconsin Democrat.
T-Mobile Chief Executive Officer Philipp Humm also is to testify, according to the news release. The witness list also included Gigi Sohn, founder of Washington-based Public Knowledge, who has called the combination “unthinkable;” Larry Cohen, president of the Communications Workers of America, which supports the deal; and Victor “Hu” Meena, chief executive officer of Ridgeland, Mississippi-based wireless provider Cellular South.
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