AT&T: Centennial Buy Wont Close Until At Least Q3

AT&T Inc. (T) said its acquisition of Centennial Communications (CYCL) will be pushed back to the third quarter – “assuming timely satisfaction or waiver of all remaining closing conditions,” that is.

The Justice Department and FCC both are scrutinizing the merger and with a change of federal leadership, AT&T probably won’t get the rubber-stamp approvals it grew accustomed to during the Bush years.

AT&T announced last November the $944 million purchase of Centennial, a mobile-services provider. The deal would add 1.1 million new customers to AT&T’s base and give AT&T 850MHz spectrum in a number of states.

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