AT&T Promises To Continue Working On T-Mobile Deal, Has Money To Quickly Close Deal

AT&T’s Chief Financial Officer, John Stephens vowed to continue pursuing the T-Mobile deal during comments at the UBS media conference in New York City. “We continue to move forward with our efforts to complete the T-Mobile transaction…and we will continue to pursue the sale.”

AT&T says they have $10 billion in cash accumulated for the deal, $20 billion bridge facility and $8 billion in backup. “So we clearly have an ability to close the deal very quickly and have those resources,” Stephens said. “That is the plan.”

Stephens would not address how AT&T plans to handle any antitrust and Justice department concerns or how AT&T will handle Friday’s status hearing in front of Judge Huvelle. While some insiders have said that the companies are discussing alternative options such as a joint venture to pool networks, other insiders have told Reuters that both companies are “still betting on victory” and that no Plan B exists.

Stephens comments come on the heels of the Chief Financial Officer from MetroPCS speaking at the same New York event and calling the deal unlikely to go through given the “intense opposition by the government.

As seems to the norm, against what many consider are strong odds, AT&T is defiant and vows to continue fighting to acquire T-Mobile.

Reuters

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  • Anonymous

    I’m definitely ready to end my T-Mobile contract early. Before anyone comes with their shrewd “Don’t let the door hit you on the way out” remarks, I’m sticking with them just off-contract. I’ll let time decide where I go from here…

    • Tbyrne

      But why not just stay with T-Mobile and have a lower monthly bill until you make a decision?

      • Anonymous

        I’m gonna stay with them but I am seriously contemplating paying the ETF to give myself the ability to have options. I don’t see the value in my plan when it’s nearly $100 with my 15% corporate discount and only a single line.

        • Foxeh

          Unless you intend to switch sooner than later, paying the ETF now will not likely net a positive gain for you as ETFs get lower as time goes on. If you intend on switching to a Value Plan, there’s a migration fee that’s generally a lot lower than a full on ETF, but everyone’s situation is different.

        • Anonymous

          Well, I was just gonna drop down to the $30 a month prepaid plan and pocket the extra $65-70 a month until I figured out what would be best for me. What’s the migration fee compared to the ETF?

        • http://twitter.com/chufleco jason p

          I agree I pay the same amount with my discount also .. I see no value in the plan but I am going to just stick it out til the end of my contract and see what happens with the merger

        • Anonymous

          But I feel like with Verizon’s current double data offering, I could come close to what I’m paying and get much better service. Hell, I might even come out on top with corporate discounting for them… (I hear it happens for some people.)

        • BigMixxx

          that doesn’t add up.  You should call retention….

        • Anonymous

          I’ve tried all to no avail. I would never have signed another contract with them had I known that they’d BS me at the store and talk about a port-in credit that I’d never get. My plan sits at unlimited minutes and text with only 2gb of data. It doesn’t make sense to me either…

        • BigMixxx

          Thats what I like about T mobile.  Call the customer service ask for retention.  Explain to them the situation and your billing, then make your decision.

        • Anonymous

          I’ll give it a shot and then definitely decide. This is my coup de grâce

      • Travis_widdison

        Cause that would make sense

        • Anonymous

          You’re an idiot. My response below details why I don’t see the “value” in staying on contract with T-Mobile…

  • SemiSpook

    Just stop. You’re going to hurt yourself.

  • http://www.joshrobertnay.com Respawn

    AT&T is like the cockroach of the wireless industry. They just won’t die. And they’re about as smart.

  • Slick

    money to bribe?

  • whiskers

    The fat lady has sung and now she has to prepare herself for an encore , lol.
    Wow , what’s next .

  • BP

    Reuters forgot to mention what John Stevens aka Tony Montana said right before he bragged about the money. “In this country, you gotta make the money first. Then when you get the money, you get the power. Then when you get the power, then you get the women which is Carly.”

  • Brian Richards

    Dear AT&T: Go the hell away. Seriously, we don’t want you here.

  • http://pulse.yahoo.com/_AWWIKW6MNPUHOC4OVSHWUDWAHM Fabio

    Dear AT&T,

    Keep capping data, speak out feverishly against Net Neutrality, don’t invest in your existing infrastructure, charge $30 a month for unlimited texting even though we already pay a grossly over-priced monthly fee for a data plan (just look at Europe for an example), charge outrageous prices for your cell phones, move all your support jobs overseas so that when we have a question we can barely understand what the customer service agent is saying, tell us the merger is good for everyone and then post internal documents saying you’re only doing it to reduce competition and you’re not going to find anyone feeling sorry for you. I am a current AT&T customer and I’ve had it with the crappy service and outrageous pricing. As soon as my contract is up in February I’m moving to pre-paid. I’m so sick and tired of the shenanigans AT&T plays it’s making me sick. You’re all a bunch of liars with a single goal of making yourselves stupidly rich at the expense of loyal customers. You aren’t innovative, you don’t bring anything to the table that is exciting, all you want to do is figure out how you can squeeze a few more pennies from your customers. It’s a very, very bad business model.

    Yet you wonder why the merger is being challenged so ardently…my God how blind can you be…
     

    • 4G

      Here is my email ivorypeppers@gmail.com I have a prepaid service that you should defiantly take a look at. We are changing the way the prepaid market is ran.

    • ogopogo

      Was in the same position 2 years ago. Jumped ship to T-Mobile, and am still loving every minute of my experience. I’ve had great CS support, I don’t have a contract, my monthly bill was cut in half, I have great coverage, free WiFi calling, free HotSpot, unlimited data and texts, and no blocked apps.

      • http://ashn.myopenid.com/ Ash

        Same as you bill cut in half, but I don’t have wifi calling, FYI, data is 5gb and slow as hell.

  • Anonymous

    Please stay away AT&T, I already give you enough money for your DSL/Phone service. Leave T-mobile alone. You already ruined/ate up Cingular back in the day and also ate up my original Bellsouth DSL company… you hungry again?

    • Anonymous

      Why are you paying for their DSL service? Lol. It’s absolute crap. 

    • Anonymous

      You do know, that the current AT&T is the old Cingular right? AT&T of 2011, is not the AT&T wireless of 2003.

      • Deceptivesmiles

        I miss the AT&T before Cingular took over, great phones and great rates. Then Cingular bought em and tried to force me into their plans. That’s when I jumped shipped to Tmo and didn’t look back

      • Anonymous

        “You do know, that the current AT&T is the old Cingular right?”

        I guess you don’t know that Cingular was owned by SBC and Bell South which were “Baby Bells” from the original AT&T break up.

  • Guest

    AT&T is like herpes, just when you think it is gone, it keeps coming right back!

  • Anonymous

    Why it’s it that everybody but at&t realizes this deal it’s over? Take that money and start working on your lte network so we can all move on.

  • Anonymous

    AT&T is lying whenever they release or make a statement, no different here. They don’t have a fight to fight.

  • Stakkabo

    Even after it is official that the deal is dead and the fcc says no and the judge rules in the justice departments favor I still expect att to say they still believe the deal will happen.

  • Tbyrne

    What the hell is Randall & company smoking over there in AT&T land?

  • Silk7412

    “My feet is getting wet but i’m staying on this boat” – john stephens the new captain of the titanic

  • Littlesis1774

    OH LOOK OUT T-MOBILE “ICEBERG RIGHT AHEAD”

  • Hairtodaygonetomorrow

    I’ve got and idea. Let’s skip covering any and all news from ATT on this debacle. Just publish anything that comes from DT or the US Gov.  I’m tired of seeing the ATT comments taking up space.

  • JBLMOBILEG1

    At&t can take their cash and shove it. They are greedy beyond belief. You tally all that money up and you only get $38 billion… I thought the deal was $39? So are they saying they have $38 billion to bribe us? They are willing to give up over $70 billion dollars to try and buyout Tmobile? Are they INSANE??? Why don’t they use the spectrum they have a build out their network already??? Seriously they have ALL this money yet they don’t invest it well. Why not bring the jobs back to the US already? Heck why not be a good US company and use your money to help the homeless during this time of the year instead of wasting it to build your monopoly and ruin this country even more? I think we as US citizens should have a say and kick out At&t. Greedy a$$ cooperation!!! I really hope DT speaks up soon about all of this because even being in talks with such a horrible company they too are starting to look bad in my eyes.

  • AfroLogic

    It sounds like ATT has something up their sleeves, and it might be another round of bribes.

    I don’t think the fat lady is quite ready to sing yet. 

  • BigMixxx

    $28 billion in financing?  And where is that money coming from?  That cocaine farm? Freeway Rick Ross?  Betting on dogs?  Fighting Chickens?  

    It can’t be coming from financial institutions we know….

    • AfroLogic

      That’s where I get all my money.

  • GinaDee

    Can’t wait for this thing to be over with.  Tired of the “occupy wall street,” protesters trying to call the shots.  

    We now know that when the economy is bad American’s turn on prosperous corporations with big anti-business sentiment.  

    I’d rather have an American company like AT&T bolstered and strengthened by the union with T-Mobile than to allow a German company to under-invest and allow its US subsidiary to struggle on her own.  

    Once people start getting jobs and back on their feet they’ll stop the entitlement attitudes, incessant moaning and groaning and the “I’m the victim,” demeanors will lessen.  

    • Anonymous

      You do realize that your comment is invalid right? Sure AT&T get’s stronger, but they are giving away $28 billion to a German company anyway. So how is that going to “bolster and strengthen” the US? That money will be in turn invested in Germany.

      • Tbyrne

        Exactly right! Dee is being, well, Dee.

      • http://pulse.yahoo.com/_AWWIKW6MNPUHOC4OVSHWUDWAHM Fabio

        Thank you!!!! Finally a point that people seem to blinded by!

    • Maschwar77

      Idiocracy in action!

  • Anonymous

    So what I just read was “Hi. We have lots of money. So instead of improving our own technologies we just want to buy the competition.”

  • The Dude

    I see very little American in AT&T

  • TMoFan

    at&t and DT cannot admit defeat so while pursuing this dead deal T-Mobile’s reputation will continue to be dragged through the mud. When will the greed end?

    It’ll be a good show then when they are finally trounced by the DoJ. Go away at&t no one is buying your garbage claims of jobs and LTE.

  • Maschwar77

    This just defines stupidity!

  • Suank

    They are waiting for a republican president who will allow the sale.

  • Suank

    They are waiting for a republican president who will allow the sale.

  • TJ9092

    “AT&T says they have $10 billion in cash accumulated for the deal, $20 billion bridge facility and $8 billion in backup.” ….. So Instead Of Just Putting That Money Towards The Network Where Every Dollar Will Help It Improve & Expand. U Take The Easy Way To Eliminate A Competitor & Return To Your Position As A Huge Out Of Control Company That Was Broken Up Once Before, All In One Move. AT&T Basically Is Just Playing Their Hand With The Gov’t We All Know Our Gov’t Makes Dumb A** Decisions So They Figure They Can Slide Thru With This Merger.. Oops I Meant Takeover .