The Department of Justice has filed an anti-trust lawsuit to block the merger of AT&T and T-Mobile by citing the potential monopolizing power of the new super-telecom.
The U.S. Justice Department announced Wednesday it would seek to block AT&T's $39 billion takeover of T-Mobile, saying it would be anti-competitive.
The DOJ asked the court for a declaration that the takeover would violate U.S. antitrust law because it would "substantially lessen competition" in the U.S. wireless market.
"The combination of AT&T and T-Mobile would result in tens of millions of consumers all across the United States facing higher prices, fewer choices and lower quality products for mobile wireless services," Deputy Attorney General James M. Cole said in a statement.
I thought the Obama Administration was in the tank for corporations? One may believe so if you were to listen to some of the more far-left voices out there. Or you may believe the opposite if you listen to the far-right.
Reality is always far more complicated than either extreme would have you believe.
This is a victory for anyone who believes in free markets. I mean real free markets. Not crony capitalism. A monopoly is not a free market nor is corporate hegemony over the marketplace.