Aug 26 AT&T Inc has reached a tentative
deal with antitrust regulators to pave the way for it to buy
DirecTV, the New York Post reported, citing unspecified
AT&T, the No.2 U.S. wireless carrier, has agreed to
unspecified conditions from the Justice Department for the deal,
the newspaper reported. (bit.ly/1BXpdhr)
The proposed deal is expected to get clearance from the
Justice Department and the Federal Communications Commission in
the first quarter, the newspaper reported.
In May, AT&T revealed its plan to buy DirecTV, the No.1 U.S.
satellite TV provider, for $48.5 billion, which highlighted
AT&T's pressing need for fresh avenues of growth beyond the
maturing U.S. cellular business.
The deal must win approval from antitrust regulators and the
FCC in order to go forward. Congress has no decision-making
power in the regulatory review.
The DoJ, FCC and AT&T were not immediately available for
comment outside regular U.S. business hours.
(Reporting by Arnab Sen in Bangalore; Editing by Rodney Joyce
and Gopakumar Warrier)