U.S. Justice Dept to appeal approval of AT&T acquisition of Time Warner

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The U.S. Justice Division mentioned on Thursday it might appeal a federal decide’s approval of AT&T Inc’s $85.four billion US acquisition of Time Warner, elevating the prospect that the deal may very well be undone.

The Justice Division opted in June not to search a direct keep of the court docket’s approval of the merger, permitting the merger to shut on June 14, although the Justice Division nonetheless had 60 days to appeal the choice approving the merger. The federal government’s court docket submitting didn’t disclose on what grounds it intends to problem the approval.

AT&T and the Justice Division didn’t instantly remark.

AT&T shares fell one per cent after the bell.

The merger, first introduced in October 2016, was opposed by President Donald Trump. AT&T was sued by the Justice Division, however received approval from a decide to transfer ahead with the deal in June following a six-week trial.

Choose Richard Leon of U.S. District Courtroom for the District of Columbia dominated that the tie-up between AT&T’s wi-fi and satellite tv for pc companies with Time Warner’s films and tv reveals was authorized underneath antitrust regulation. The Justice Division had argued the deal would hurt shoppers.

https://www.cbc.ca/news/business/justice-department-at-t-time-warner-1.4744850?cmp=rss

 

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