News by Dan Seifert on Monday December 19, 2011.
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According to sources reporting to the Wall Street Journal, AT&T has hit yet another snag in its efforts to acquire T-Mobile, as it is now having difficulty selling T-Mobile assets to other carriers. This selling of assets, also known as divesting, is crucial for AT&T, as it may be the only way for it to gain regulatory approval for the purchase.
Earlier reports had said that AT&T was in talks with Leap Wireless, owner of Cricket, to sell some portion of the spectrum and other assets acquired from the purchase of T-Mobile to Leap. Other reports had said that Dish Communications or MetroPCS were also likely suitors for T-Mobile's assets.
Apparently, at this point, all of those negotiations have collapsed, and those involved say that the deals would not have been significant enough to sway the Justice Department's opposition to the purchase.
The Justice Department and AT&T have put their legal fight on hold until next month, in order to give AT&T time to figure out its next move as to whether or not it will continue pursuing the acquisition. It has also been rumored that AT&T and T-Mobile could form a joint venture should the outright purchase not gain approval from the government.
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