Please Hold: AT&T and Deutsche Telekom Request Court Delay

AT&T (NYSE:T) and Deutsche Telekom (DTEGY), parent company of T-Mobile, have asked to delay court proceedings until January 18, 2012, to further review their options.

The U.S. Department of Justice (DOJ) has also joined Monday’s filing, according to AT&T. In August, the DOJ sued AT&T in an effort to stop its T-Mobile merger. The two are scheduled to meet in court come mid-February.

As for the request, AT&T reiterated its commitment to the T-Mobile deal but said it needs more. In a statement by the company, AT&T said,

We are actively considering whether and how to revise our current transaction to achieve the necessary regulatory approvals so that we can deliver the capacity enhancements and improved customer service that can only be derived from combining our two companies’ wireless assets.

Here’s how telecom stocks traded on the news:

AT&T, Inc. (NYSE:T): T shares recently traded at $29.01. They have traded in a 52-week range of $27.20 to $31.94. Volume today was 8,750 shares versus a 3-month average volume of 28,675,300 shares. The company’s trailing P/E is 14.72, while trailing earnings are $1.97 per share. Get the most recent company news and stock data here >>

Sprint Nextel Corp. (NYSE:S): S shares recently traded at $2.37. They have traded in a 52-week range of $2.10 to $6.45. Volume today was 28,950 shares versus a 3-month average volume of 60,496,500 shares. The company’s trailing earnings are $-0.84 per share. Get the most recent company news and stock data here >>

Verizon Communications Inc. (NYSE:VZ): VZ shares recently traded at $38.35,. They have traded in a 52-week range of $32.28 to $38.95. Volume today was 2,895 shares versus a 3-month average volume of 15,533,600 shares. The company’s trailing P/E is 15.42, while trailing earnings are $2.49 per share. Get the most recent company news and stock data here >>