Cellular South Gets Litigious with AT&T, Stock Still Up 1.4%
AT&T (NYSE:T) gained another foe today in its battle to acquire T-Mobile as Cellular South filed a lawsuit to block the proposal. The regional carrier contends that the merger will greatly decrease competition, lead to an uneven market and prevent the new company from offering top products, which could result in increased prices and less roaming deals.
This is the third lawsuit opposing the proposed $39 billion merger as Cellular South joins the Department of Justice and Sprint (NYSE:S) in opposition to the proposed merger for anti-competitive behavior. AT&T believes that with two of the lawsuits, Sprint an Cellular South are putting their own interests above positive competition for consumers.
AT&T’s stock is up 1.73 % to $29.07 on the news. Shares are down 1.04% year to date. The stock has traded in a 52-week range between $27.20 and $31.94.