NEW YORK, March 29 (Xinhua) -- New York Attorney General Eric Schneiderman announced on Tuesday that his office will undertake a thorough review of ATT's acquisition of T-Mobile for potential anti-competitive impacts on consumers and businesses.
Schneiderman stressed that his review will weigh the benefits of the merger to New Yorkers, such as expanding the coverage of AT T's next generation broadband wireless network to rural areas in upstate New York, against the anti-competitive risks posed to them.
Cell phones are no longer a luxury for a few among us, but a basic necessity. The last thing New Yorkers need during these difficult economic times is to see cell phone prices rise, said Schneiderman in a statement. We want to ensure all New Yorkers benefit from these important innovations that improve lives.
ATT's proposed 39-billion-U.S.-dollar purchase of T-Mobile would create the nation's largest wireless company with a total of 130 million subscribers nationwide, opening the door to a near duopoly shared by the merged firm and Verizon, according to the New York Attorney General's office.
T-Mobile, a subsidiary of Deutsche Telekom, is a low-cost provider of choice for millions of New Yorkers and currently has 34 million customers nationwide, making it the fourth-largest wireless company in the United States.