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.