*It’s a no-go on the proposed $39 billion AT&T takeover of rival T-Mobile USA because he US Justice department filed suit to block it, according to Wall Street Journal report.
At a news conference Wednesday, Deputy Attorney General James Cole said the combination would result in tens of millions of consumers facing fewer choices and lower-quality products.
The deal has faced tough opposition from consumer groups and No. 3 carrier Sprint Nextel Corp. since it was announced in March.
The antitrust challenge comes shortly after the Obama administration also blocked Nasdaq’s proposed offer for NYSE Euronext and is further evidence of its desire to put new teeth into antitrust enforcement.
Read/learn more at wsj.com.