It was supposed to be one of the biggest takeovers in US corporate history. Yes, we are talking about AT&T proposed $39 billion (£24bn) takeover of T-Mobile USA, which will now have to surpass the hurdle imposed by the Obama administration in order to block the merger.
Yesterday, the US Justice Department filed a lawsuit against the proposed merger of the second and fourth largest telecom operators in the country arguing that it would "substantially lessen competition" and lead to "higher prices, fewer choices and lower quality products".
But the “breaking news” of today in that chain of events is that, now a large number of the existing T-Mobile users are stepping up and rejoicing the decision of the US Justice Department to try and block the merger.
“I’m so happy that I don’t have to be an AT&T customer,” Wired quotes a happy T-Mobile customer who expressed his happiness in the telecom operator’s message board.
Meanwhile, Wayne Watts, AT&T senior executive vice-president and general counsel, expressed his disappointment with the move taken by the Obama administration by saying: "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.”