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How AT&T fumbled its $39 billion bid to acquire T-Mobile

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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 03:52 PM
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How AT&T fumbled its $39 billion bid to acquire T-Mobile
The phone call hit like a one-two punch.

Days before Thanksgiving, AT&T's heavyweight lobbying team was busy setting up meetings with antitrust authorities scrutinizing the companys $39 billion acquisition of T-Mobile.

Julius Genachowski, chairman of the Federal Communications Commission, was on the line for AT&Ts chief executive, Randall Stephenson, and its chief of lobbying, James Cicconi. In a few hours, Genachowski said, he would announce his opposition to the deal. AT&T was stunned.

In a city overrun with lobbyists and corporate interests, AT&T is king of the heap the bareknuckled brawler that spares no energy or expense to win any fight. Since 1998, the company has given more money in campaign contributions than any other firm in corporate America. Its also one of the top 10 corporate spenders on lobbying, according to the Center for Responsive Politics.

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