AT&T Senior Executive Vice President and General Counsel Wayne Watts said in a statement Wednesday that AT&T will fight the Department of Justice’s attempts in federal court to block the company’s $39 billion acquisition of T-Mobile.
Watts said he’s confident AT&T will prevail. The company will owe T-Mobile $3 billion if the merger does not go through.
The full text of AT&T’s statement is below:
“We are surprised and disappointed by today's action, particularly since we have met repeatedly with the Department of Justice and there was no indication from the DOJ that this action was being contemplated.
We plan to ask for an expedited hearing so the enormous benefits of this merger can be fully reviewed. The DOJ has the burden of proving alleged anti-competitive affects and we intend to vigorously contest this matter in court.
At the end of the day, we believe facts will guide any final decision and the facts are clear. This merger will:
* Help solve our nation's spectrum exhaust situation and improve wireless service for millions.
* Allow AT&T to expand 4G mobile broadband to another 55 million Americans, or 97% of the population;
* Result in billions of additional investment and tens of thousands of jobs, at a time when our nation needs them most.
We remain confident that this merger is in the best interest of consumers and our country, and the facts will prevail in court.”