Trump opposed the merger of AT&T and Time Warner

© RIA Novosti / Michael Clientgenerated in Photobacterium USA Donald trump. Archival photoTrump opposed the merger of AT&T and Time Warner© RIA Novosti / Michael Clientgenerated the image Bank

The US President Donald trump said that he was against the merger of AT&T and Time Warner.

«It’s bad for the country,» said trump to the corresponding question of journalists.

Earlier it became known that the U.S. Department of justice filed a civil lawsuit to block the deal. The Ministry of justice believe that it will significantly reduce competition, and this, in turn, will lead to higher prices and reduced innovation. The merger of the two companies could become one of the largest mergers in American history.

According to the lawsuit, filed in the court of the district of Columbia capital, the merged conglomerate will be able to use its control of popular products to Time Warner, to force competitors to pay hundreds of millions of dollars more for the right to broadcast. Also in the Ministry of justice feared that the Union would slow down the industry to transition to the new platforms of video distribution that would provide customers with greater choice and possibility to save money.

In the fall of 2016 AT&T’s reported agreement on the purchase of media conglomerate Time Warner, which owns, in particular, the CNN, more than $ 100 billion. This amount includes of 85.4 billion for the acquisition of Time Warner, as well as the company’s debts, which had planned to take on AT&T.

The deal has been approved by the European Commission, the governments of Mexico and Chile.

Source

Be the first to comment on "Trump opposed the merger of AT&T and Time Warner"

Leave a comment

Your email address will not be published.


*