AT&T has begun the process of hiring bankers that will advise the company on how to sell assets in a move to ensure that they will will receive a government stamp for the takeover of T-Mobile USA. AT&T has brought on Bank of America Merrill Lynch to work on lining up potential buyers for customers and wireless spectrum AT&T will likely need to divest to win approval. AT&T has stated that they fully believe part of the approval process will be the need to sell of network assets that would otherwise give the company to much power in the marketplace. A significant portion of the divested assets are expected to come from T-Mobile’s holdings although AT&T could elect to sell off its own properties as well. AT&T could sell off assets that would exceed $8 billion dollars or more in value.
While analysts say that AT&T’s move is likely premature given the regulatory scrutiny they still face, the hiring is seen as sign of confidence from AT&T that they expect a deal to complete sometime in the first half of next year. Both AT&T and Bank of America declined to comment for the Wall Street Journal article.
“As we said on the day we announced the merger with T-Mobile USA, we anticipate there will be some divestitures, as we have had in past mergers, but any speculation about the amount of divestitures is premature,” said an AT&T spokesman
Wall Street Journal