AT&T will pay T-Mobile $3 billion in cash, a $1 billion roaming agreement, and $2 billion in spectrum if the Federal Communications Commission and the Department of Justice reject AT&T's proposed $39 billion acquisition of T-Mobile. The agreement's 15% breakup fee would shatter global records, Reuters said, noting that the 7.7% breakup cash agreement is already high. On Wednesday, AT&T's CEO Randall Stephenson met with the Senate Judiciary Committee to discuss the acquisition. AT&T's CEO Randall Stephenson has argued that there's already plenty of competition in the U.S. wireless market and that the deal will actually create jobs. Similarly, the Communications Workers of America backs the deal and believes it will be a "victory for broadband proponents. AT&T's competition isn't Francisco Ventoso of Spain fended off several rivals in a mass sprint to win Thursday's sixth stage of the Giro d'Italia, while Pieter Weening of the Netherlands retained the leader's pink jersey. The trend noticed over the last 30 days shows the analysts' positive bias in Sprint's estimate revisions for the upcoming quarter and two fiscal years. Francisco Ventoso of Spain got the part of the race he'd been targeting when he edged Italian specialist Alessandro Petacchi in a sprint finish to win the sixth stage of the Giro d'Italia on Thursday. AT&T may soon join Sprint and T-Mobile as the third U.S. carrier to offer the Nexus S. The phone was spotted in white on Samsung's website with AT&T listed as its carrier, although Samsung appears to have removed the page. We suspect AT&T will tag the Nexus S with HSPA+ support and slap a 4G at the end of its name, although the website doesn't confirm whether it will launch as a 3G or a 4G device. The Nexus S is powered by Google's latest Android Gingerbread operating system and will receive future Android updates ahead of other devices. It's equipped with a 4-inch 800 x 480 resolution display, a 5-megapixel camera, a front-facing VGA camera, and a 1GHz Cortex Speaking of smear campaigns, a new Sprint promotion specifically targets T-Mobile CL customers that may be uneasy about the proposed merger, according to a new report. According to a purported internal document, Sprint is trying to lure customers away by offering to pay their T-Mobile early termination fees up to $175 per line if they switch to Sprint. "Do you have the feeling the AT&T/T-Mobile won't end with a 'Happily Ever After?'," the document asks Sprint distribution partners. "Well, we've got a deal specifically for those T-Mobile CL customers having similar concerns." To sweeten the deal and alleviate any worries for potential T-Mobile defectors, Sprint will also waive subscribers' ETF fees if the AT&T's acquisition of T-Mobile is not approved and they choose Clearwire's stock price is sinking like a stone in the market open after Intel -- one of the mobile-Internet company's investors -- said it plans to cut its stake. Deals of the Day gathers all the biggest news of the morning related to mergers and acquisitions, bankruptcies, financing and private equity. Dale Earnhardt Jr. apologized to members of his pit crew for his costly mistake during Saturday's Sprint Cup race at Darlington Speedway. Extraction of the Sprint Fidelis lead (Medtronic) can be safely performed in an experienced large volume center, according to research presented at the 2011 Heart Rhythm Society (HRS) conference in San Francisco last week. The Sprint Fidelis lead has been associated with increased failure rate which resulted in the lead being removed from the market in 2007. However, even if the lead does not fail, physicians are tasked with the decision as to whether or not to prophylactically remove the Sprint Fidelis leads, explained the study's lead author Raed H... FedEx 400 Benefiting Autism Speaks Dover International Speedway Dover, Del. When: Sunday, 1 p.m. TV/Radio: Fox/WNPV (1440-AM) Race course: 1-mile oval Sprint Nextel's chief executive told members of Congress on Wednesday that permitting the merger of rivals AT&T and T-Mobile would be the end of his company in its current form. Dan Hesse, who runs the third-largest of the nation's telecom companies, said Sprint would probably be absorbed by someone else and customers nationwide would suffer if AT&T is allowed to complete its $39 billion bid to buy T-Mobile. "It would fundamentally put us in a situation where this is a duopoly (industry) and it puts us in position to be acquired," Hesse said in the Senate antitrust subcommittee hearing. Read full article >> Sprint has quietly hiked its text messaging rates for businesses that send text alerts over its cellular network. But ESPN, The Weather Channel and MSNBC have all opted to cease sending free messages to Sprint users altogether rather than pay the new fee. #### AT&T, T-Mobile take merger case to Capitol Hill By JOELLE TESSLER The Associated Press ##### Published May 11, 2011 04:33PM MDT Washington • Top executives from AT&T and T-Mobile USA faced off against top officials from Sprint Nextel and Cellular South on Capitol Hill on Wednesday as lawmakers considered whether AT&T's proposed $39 billion acquisition of T-Mobile would produce better mobile service for consumers or crush competition in the wireless industry. Testifying at a Senate Judiciary subcommittee hearing on the transaction, AT&T President and CEO Randall Stephenson said that the purchase would lead to fewer droppe... ##### Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. share: digg facebook twitter THE SETTING: A Senate subcommittee hearing on AT&T's proposed $39 billion acquisition of T-Mobile. THE PROPONENT: AT&T Inc.'s CEO says the purchase would lead to fewer dropped and blocked calls and faster mobile Internet connections for subscribers. He says the deal also would position AT&T to cover more than 97 percent of the U.S. population with its new high-speed, fourth-generation wireless service. THE OPPONENT: Sprint Nextel Corp.'s CEO warns that the wireless industry would regress to "a 1980s- style duopoly" dominated by AT&T and Verizon — with smaller carriers such as Sprint struggling to compete. One side says the deal will lower consumer prices, drive innovation, and improve service. The other side says the deal will stifle competition, lead to layoffs, and take the market back to a 1980's-style duopoly. Yes, the AT&T-T/Mobile show rolled into Washington, D.C. Wednesday for a Senate hearing on Capital Hill and, suffice it to say, there [...] One turn at the Southern 500 at Darlington led to major repercussions for NASCAR and the Sprint Cup Series last weekend, and its aftermath will carry over into this Sunday’s race at Dover International Speedway. It was Regan Smith that came out of nowhere to steal his first victory of the 2011 SCS season, but [...] WASHINGTON (AP) -- Top executives from AT&T and T-Mobile USA faced off against top officials from Sprint Nextel and Cellular South on Capitol Hill Wednesday as lawmakers considered whether AT&T's proposed $39 billion acquisition of T-Mobile would produce better mobile service for consumers or crush competition in the wireless industry.... share: digg facebook twitter WASHINGTON (AP) — Top executives from AT&T and T-Mobile USA faced off against top officials from Sprint Nextel and Cellular South on Capitol Hill Wednesday as lawmakers considered whether AT&T's proposed $39 billion acquisition of T-Mobile would produce better mobile service for consumers or crush competition in the wireless industry. Testifying at a Senate Judiciary subcommittee hearing on the transaction, AT&T President and Chief Executive Randall Stephenson said that the purchase would lead to fewer dropped and blocked calls and faster mobile Internet connections for subscribers. AT&T, the nation's second-largest wireless carrier, is seeking federal approval to acquire T-Mobile USA, the fourth-largest, from Germany's Deutsche Telekom AG. The cash-and-stock deal would catapult AT&T past Verizon Wireless to become the biggest cellphone company in the country, and leave Sprint as a distant number three. From the start, AT&T has argued that the deal would produce benefits that help meet two key goals of the FCC and the Obama administration: ensuring that all Americans, particularly those in rural areas, have access to affordable high-speed Internet connections and freeing up more wireless spectrum to meet ballooning demand for mobile broadband services. Stephenson told lawmakers Wednesday that ...
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Thursday, May 12, 2011
AT&T to pay TMobile $6 billion if feds reject acquisition Weening retains pink jersey in Giro d'Italia Earnings Scorecard Sprint Analyst Blog Ventoso wins Stage 6; still White Samsung Nexus S headed goes after customers uses as bait Clearwire Shares Getting Pounded on Intel Sales Deals of the Day Raj Verdict Rocks Wall Street Embolden Prosecutors Earnhardt Apologizes To Team For Pit Miscue Implanted Fidelis Leads Can Be Safely Extracted In HighVolume Facilities This week's NASCAR Cup race sees doom AT&TT Mobile deal ESPN Balks at Sprint’s New Text Fee take merger case Capitol Hill Summary Box face rivals mergers Lawmakers CEOs Tangle Over AT&T’s Bid Spectrum ‘Crunch’ Sports Betting Wire Racing – Tempers Flare The Aftermath Of Darling
