The US government failed for time being with its resistance to DieÜbernahme by DenTelekomriesen AT T. A US court allows merger to take place without major conditions on grounds that Ministry of Justice has not been able to provide sufficient justification for its assertion that concentration would harm competition.
In October, AT T and Time Warner signed a first agreement to sell Time Warner to AT T for 85.4 billion dollars. This also includes HBO channel, film studio Warner Bros. And news channel CNN. AT T intends to take over independent of mobile phone business, with demdas companies being under pressure from smaller rivals such as Sprint or Telekom subsidiary T-Mobile. But US Department of Justice stood up against project and complained.Merger still in June
For US president Donald Trump, court order is a defeat: he had already spoken out during election campaign against merger. His government can still appeal. So far she hasn't announced it. The Ministry of Justice showed itself disappointed. They wanted to examine justification of court and consider next steps, it said. AT T Group stated in an opinion that he had "categorically rejected" government's complaint after a fair trial.
The merger is now to be completed by 20 June. The shares of company hardly recorded any change in trading trade. Time Warner's share certificates increased by more than five percent.
The judgment of Court is considered to be one of most important antitrust decisions for years, future mergers and acquisitions in United States could significantly influence m.Date Of Update: 13 June 2018, 12:02