Executives from both companies met with the FCC this week and said that any more delay in their transaction “will impose a severe burden on Centennial,” according to a filing with the communications agency.
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, mostly in the Midwest, Southeast and Puerto Rico, and give AT&T 850MHz spectrum in a number of states.
But the two carriers still need approvals from the Justice Department and FCC. It’s unknown what the holdup might be; AT&T already has divested some of its assets, to ward off any antitrust objections, making any conditions for completing the merger “unwarranted,” AT&T said in the filing. They said wireless services competition will remain “robust” in Puerto Rico and that landline service isn’t affected by the deal.
AT&T had hoped to close the merger in the third quarter, but it said last week the transaction won’t wrap until the fourth quarter.