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Just heard on CNBC that there should be an imminent news conference from the Department of Justice on "antitrust matters" relating to the proposed AT&T-T-Mobile merger that would effectively allow for a near duopoly in wireless communication in this country along with Verizon which would control 80% of the market.

It had been previously expected that the deal would sail through as in recent years most big name mergers did so.

Will update more as news comes along....

But this is an incredible victory for American consumers, possibly for network neutrality and for once we finally see our Department of Justice doing its damn job.

The US already has some of the steepest rates for wireless services in the developed world, not to mention a hodge podge of incompatible network standards across all carriers that has led to substandard network coverage and other problems. an AT&T-Verizon duopoly could see enormous price hikes and an effective end to competition in this crucial and increasingly important market.

Press conference has begun...

DoJ claimes it would be anti-competitive and bad for consumers. Cites inevitable price hikes...

Here is a link to the story from CNBC: http://www.cnbc.com/...

AT&T had sought to buy T-Mobile which is the American subsidiary of Deutsche Telekom and the nation's #4 wireless carrier for $39 billion. AT&T would owe Deutsche Telekom a reported $3 billion plus wireless sprectrum in a break-up fee.

Sprint-Nextel had been officially opposed to the deal, and its stock has naturally soared.

UPDATE: From the NYT (http://dealbook.nytimes.com/...)

The complaint, which was filed in the United States District Court in Washington, said that T-Mobile “places important competitive pressure on its three larger rivals, particularly in terms of pricing, a critically important aspect of competition.” The complaint also highlighted T-Mobile’s high speed network and its innovations in technology.

AT&T’s elimination of T-Mobile as an independent, low-priced rival would remove a significant competitive force from the market,” the complaint said. “Thus, unless this acquisition is enjoined, customers of mobile wireless telecommunications services likely will face higher prices, less product variety and innovation, and poorer quality services due to reduced incentives to invest than would exist absent the merger.”

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